** weekly chart **
Showing posts with label silver. Show all posts
Showing posts with label silver. Show all posts
Friday, October 12, 2012
Sunday, October 23, 2011
Wednesday, August 24, 2011
ZSL & DZZ : great time to short silver and gold
Gold Plunges 5.6%, Ending Below $1,800
Gold futures ended the regular session down by $104, or 5.6%, at $1,757.30 an ounce for the most-active contract, in the second-biggest dollar decline ever.
ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London.
The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective.
The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery. The Fund’s investment advisor is ProShare Advisors LLC.
PowerShares DB Gold Double Short ETN (NYSE: DZZ)
Tuesday, August 2, 2011
Saturday, April 9, 2011
Monday, November 1, 2010
Sprott lists new physical silver fund
A new Sprott physical silver fund which is looking to hold some 500 tonnes of the metal has been launched on a day silver briefly broke through $25
Sprott Asset Management has filed prospectuses for the Sprott Physical Silver Trust. The document was accepted at the Securities and Exchange Commission in the United States on 29th October, a day on which silver jumped from just below $24/ounce to very nearly reach $25. Silver has subsequently poked its nose over $25 although - so far at any rate - that level has not held. Investors may have decided to take a small slice of profits at the end of last month, with the iShares silver fund in NEW York experiencing redemptions of over 82 tonnes last week; although there was a small increase in interest in the ETF Securities funds, while the Zurich cantonal Bank fund has been broadly steady.
The Trust has been created to "invest and hold substantially all of its assets in physical silver bullion", the Custodian for which is the Royal Canadian Mint and will "purchase silver bullion" in an amount equivalent to the net proceeds of the offering less an amount to be withheld for ongoing expenses. The Trust is thus closed end. The implication from the figures in the prospectus suggest that, if fully funded, the Trust will be looking to purchase over 500 tonnes of silver. To put this in context, world industrial demand for silver is currently running at approximately 24,000 tpa, so 500t is equivalent to about a week's demand. Holdings in the major ETFs currently amount to just below 13,900t.
Sprott Asset Management has filed prospectuses for the Sprott Physical Silver Trust. The document was accepted at the Securities and Exchange Commission in the United States on 29th October, a day on which silver jumped from just below $24/ounce to very nearly reach $25. Silver has subsequently poked its nose over $25 although - so far at any rate - that level has not held. Investors may have decided to take a small slice of profits at the end of last month, with the iShares silver fund in NEW York experiencing redemptions of over 82 tonnes last week; although there was a small increase in interest in the ETF Securities funds, while the Zurich cantonal Bank fund has been broadly steady.
The Trust has been created to "invest and hold substantially all of its assets in physical silver bullion", the Custodian for which is the Royal Canadian Mint and will "purchase silver bullion" in an amount equivalent to the net proceeds of the offering less an amount to be withheld for ongoing expenses. The Trust is thus closed end. The implication from the figures in the prospectus suggest that, if fully funded, the Trust will be looking to purchase over 500 tonnes of silver. To put this in context, world industrial demand for silver is currently running at approximately 24,000 tpa, so 500t is equivalent to about a week's demand. Holdings in the major ETFs currently amount to just below 13,900t.
Subscribe to:
Posts (Atom)