Silver Trust Adds 420 Tonnes to Its Stash

The folks over at the iShares Silver Trust (NYSE:SLV) were quite busy last week, adding a total of 420 tonnes of silver to their stash, pushing the inventory at the world's most popular silver ETF above the 8,000 tonne level for the first time ever.
Since the first of the year, they've added 1,234 tonnes to the trust, an increase of about 18 percent. During that time, the price of silver has risen almost 30 percent, the best performing commodity so far in 2009 by a wide margin.

Comments

[ibejack:]

You guys hear that sound? That giant sucking sound?

SIlver is hard as hell to find right now. I can't point to any technical reasoning but judging by the metals scarcity, it feels like Silver is on the brink of explosion. I would much rather own silver over gold right now. Pretty soon the masses will not be able to afford gold so they will turn to Silver.

Feb 24 04:54 PM

[hawaiismk:]

Then why such the big drop today?

Feb 24 07:20 PM

[chopshop:]

From my observations I believe that those whose trends have been contrarian remain so as long as the idea of a bad economy must exist somewhere. When the idea of a bad economy can remain submerged the relationships begin to act more rationally and then slv should produce lasting gains.

Feb 24 09:05 PM

[Chris - Lon...:]

I DO NOT BELIEVE FOR A SECOND THE DROP IN GOLD AND SILVER. Whatever happened is some government behind the scenes or central bank. stay with your metals! You will kick yourself if you sold them now!!

Feb 24 11:09 PM

[Chris - Lon...:]

I DO NOT BELIEVE FOR A SECOND THE DROP IN GOLD AND SILVER. Whatever happened is some government behind the scenes or central bank. stay with your metals! You will kick yourself if you sold them now!!

Feb 24 11:12 PM

[E.D.Hart:]

Silver dropped today because it was a hedge against market uncertainty--as confidence and buying returned to the markets, some of that money drained out of silver. For me, Im long silver and silver stocks and wait until DOW 6000 until I begin to put money back to work in traditional blue chips.
Long silver, Long SLW.

Feb 25 02:37 AM

[Vin2066:]

Silver is still suspect to me. I don't see it flying off the roof anytime soon. Why? Its simple economics. Silver is mainly used for industrial purposes, unlike Gold which is used as an inflation hedge. Are there demand for industrial use now? You tell me if there is a demand for anything now.

Feb 25 03:59 AM

[Kelly Liebe...:]

Please don't tell me that you are concerned with a drop on any given day. There are people who trade between .10 cent moves... There are others that look at a 3-6 month window and others that hold till retirement.
The market moves. Period. For a thousand reasons. Learn to trade the moves or relax.


On Feb 24 07:20 PM hawaiismk wrote:

> Then why such the big drop today?

Feb 25 09:59 AM

[hghodges:]

Hard to find? I wish that were the case. Certified Mint has it in any form or quantity you desire,


On Feb 24 04:54 PM ibejack wrote:

> You guys hear that sound? That giant sucking sound?
>
> SIlver is hard as hell to find right now. I can't point to any technical
> reasoning but judging by the metals scarcity, it feels like Silver
> is on the brink of explosion. I would much rather own silver over
> gold right now. Pretty soon the masses will not be able to afford
> gold so they will turn to Silver.

Feb 25 09:30 PM