Twilight Zone As ETF Provider Warns Buying Silver Will Harm Hedge Funds And Large Banks

Read more on this subject: Gold and Silver
News Story Source: Zero Hedge – Tyler Durden
Submitted by Ronan Manly, BullionStar.com

Just over a week ago, we showed you how, following the #SilverSqueeze triggered surge in demand for physical silver, the 14 ETFs which claim to hold silver in LBMA vaults in London between them accounted for over 28,000 tonnes or 85% of all the silver said to be in those London vaults. And that the biggest of these ETFs, the infamous Blackrock managed iShares Silver Trust (SLV), which has JP Morgan London as custodian, accounted for over 70% of this total.

And just a few days ago we showed you how, following the #SilverSqueeze induced surge in SLV trading from 29 January to 02 February on NYSE Arca, the very same SLV had quietly and without fanfare amended its Prospectus on 03 February conceding that there may not be enough silver bars available in London or elsewhere to add to the Trust, when it stated in its filing to the SEC that:

"The demand for silver may temporarily exceed available supply 
Read More or Make a Comment

Bookmark the permalink.

Comments are closed.