The recent weakness in PM's has resulted in a sell-off in the gold ETF but not an ounce was shed from the silver ETF. Moral of the story, do not sell any physical silver, or for that matter any silver equities, regardless of price fluctuations. Also, I thought silver was the volatile sibling?
Quiet day - VHF
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| StreetTRACKS Gold losses 50 tonnes in 4 days, iShares Silver zero |
By Gene Arensburg
25 Apr 2008 at 11:07 AM
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From Monday through Thursday, streetTRACKS Gold Trust [NYSE:GLD] reduced its metal holdings by a little over 50 tonnes from 641.82 to 591.19 tonnes.
That's the largest one-week reduction of metal by the trust since its November, 2004 inception. We are finally seeing significant negative money flow from GLD.
However, as expected, there has been no corresponding reduction of metal holdings by iShares Silver Trust [AMEX:SLV], the U.S. silver ETF. It has not had to reduce the float or sell any silver. None.
More to come in the charts this weekend on RI in our bi-weekly Got Gold Report. Click here to read the last report.
Hang in there and keep your vulture-like eyes on the long-term prize.
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