Shareholders In The iShares Silver Trust Are Sticking With It
- Purchases of SLV have increased considerably during a large price drop.
- SLV's soul mate GLD has seen net outflows during the same period - a period in which the drop in GLD was considerably less than SLV's drop.
- SLV investors have a different mindset to those of GLD and many other assets. Instead of bailing out of a losing position, they play for the long-term.
- Silver has been a material for an incredible breadth of industrial uses over thousands of years.
- While the use of silver in an antimicrobial role is nothing new, the potential is now greater than ever.
- The silver antimicrobial coatings market is expected to grow over 13% for the next six years.
- There seems to be price stabilization due to the cost of production for the industry.
- Possible arbitrage play: sell gold, buy silver based on statistical correlation.
- Although silver price action resembles a bearish descending triangle, speculators suggest this is a multiple bottom formation and excessive selling should stall.
- Buffett and Gates have previously invested in silver.
- Silver’s progress coincides with the movement in the U.S long term treasuries.
- The price of silver fell last week even though gold rallied;
- Silver stocks such as Pan American Silver (PAAS) and iShares Silver Trust (SLV) also bounced back last week;
- The gold/silver ratio has provided traders with many opportunities to take advantage of gold's outperformance of silver.
- Silver has outperformed in recent months, opening up an opportunity to put the trade on again.
- We'll look at how to put the odds in your favor with this trade.
- Silver changed direction and fell last week.
- Other silver investments such as Pan American Silver (PAAS) and Silver Wheaton (SLW) also plummeted last week.
- Silver may resume its rally if the FOMC maintains an unclear stand on the timing of the rate hike.
- Silver inched down last week.
- Other silver investments such as Pan American Silver (PAAS) and Silver Wheaton(SLW) rallied last week.
- Next week’s release of the minutes of the FOMC meeting could pull up silver.
5 Reasons Why It's Time To Buy One Of The World's Most Undervalued Assets: Silver
- Silver might be one of the world's most undervalued assets.
- As the global economy rebounds, demand for silver should also increase as it is used in many industries.
- Silver has just made a breakout move (on high volume) above the recent trading ranges and that could mean a strong new uptrend is beginning.
- "Left for dead" silver and gold stocks are coming back strong which also shows renewed interest in this asset class.
- With no evidence of inflation in the major world economies, gold and silver should continue to face short-term selling pressure.
- Long-term outlook is much better given the massive inflationary policies of central banks around the world.
- Gold and silver might test the lows of its one-year price range.
June Is Historically The Worst Month Of The Year For Silver
- Silver has dropped in 14 of the last 20 years in June.
- Silver experienced record demand in 2013.
- Silver cannot drop to zero, but the miners could.
- The price of silver remained relatively flat last week, which also kept silver ETFs such as iShares Silver Trust nearly unchanged.
- The U.S. GDP for the first quarter could impact the silver market.
- The shift in market sentiment could also affect the price of silver.
There are no Transcripts on SLV.
Fri, Sep. 19, 4:19 PM
Fri, Sep. 19, 3:58 PM
- Gold’s downward spiral continues as the yellow metal closed today at an eight-month low and finishing its third weekly loss in a row, pressured by the dollar’s move higher after Wednesday's Fed policy meeting.
- The FOMC meeting "maintains our belief that the process of U.S. monetary tightening continues, and this will encourage further advances in long-term real yields and the U.S. dollar," Deutsche Bank said today in a note.
- Meanwhile, several gold mining stocks have hit new 52-week lows, including Barrick Gold (ABX -2.5%), Yamana Gold (AUY -3.7%), Kinross Gold (KGC -2.7%) and Coeur Mining (CDE -3.6%).
- ETFs: GLD, SLV, GDX, NUGT, AGQ, IAU, DUST, SIL, USLV, SIVR, SGOL, ZSL, UGL, GLDX, DGP, GLL, UGLD, DZZ, DSLV, SLVP, DGL, DBS, DGZ, OUNZ, RING, DGLD, AGOL, GGGG, SGDM, PSAU, USV, UBG, BAR, BARS.
Thu, Sep. 18, 8:39 AM
- The strong dollar - it's at its highest vs. the yen since the financial crisis, and performing well against other major currencies as well - for now works as a good excuse for gold's continuing slide.
- Off 1.4% to $1,218 an ounce in morning trade, the yellow metal is lower by nearly 10% since July 4 and closing in on the YTD low of about $1,200 set on January 1.
- Down 2.1% to $18.35 per ounce, silver is at a new low for the year, and roughly back at levels not seen since 2010.
- GLD -0.35%, SLV -0.9% premarket
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, OUNZ, DGLD, AGOL, TBAR, USV, UBG, GLDE, BAR, GYEN, GEUR, BARS, GGBP
Fri, Aug. 15, 10:33 AM
- Bank of Nova Scotia and HSBC - formerly part of the old telephone-based system - joined today with newcomer Mitsui & Co. Precious Metals for the first-ever electronic fixing of the daily silver benchmark (it occurred at noon London time).
- Previous to today, the silver fix for decades has been set daily on a private conference call. That system has been replaced by the London Silver Price - run by CME Group and Thomson Reuters in partnership with LBMA. More participants are expected to join in coming week, says the LBMA.
- ETFs: SLV, AGQ, USLV, SIVR, ZSL, SLVO, DSLV, DBS, USV
Mon, Jul. 14, 11:29 AM
- Precious metals miners are broadly lower as gold futures head for their biggest daily drop of 2014, plunging $29.30, or 2.2%, to $1,308.10/oz.
- Physical demand has remained short of expectations, Commerzbank's Eugen Weinberg says, and India's decision to maintain a 10% import duty on gold and silver likely will dampen future gold demand expectations from the country.
- Barclays, which expects gold to drop to $1,200/oz. by Q3, also expresses caution, saying recent gains across the metals complex look toppy.
- ABX -1.2%, NEM -1.7%, GG -2.4%, KGC -1.8%, AEM -1.4%, AUY -1.4%, EGO -3%, NGD -2.8%, FNV -2.4%, AGI -2.6%, AU -2.2%, IAG -1.9%, GFI -3.4%, BTG -2.1%, NG -0.7%, SLW -2.1%.
- ETFs: GLD, SLV, GDX, NUGT, AGQ, IAU, DUST, SIL, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLDX, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, SLVP, DGL, DBS, GLTR, DGZ, RING, AGOL, DGLD, OUNZ, DBP, GGGG, WITE, PSAU, TBAR, USV, UBG, JJP, GLDE, GYEN, GLDL, RGRP, GLDS, GEUR, GGBP, BLNG
Thu, Jul. 10, 7:42 AM
- Portugal's 4% decline today brings its 7-day dive to 11% as the parent of Banco Espirito Santo reportedly is considering bankruptcy protection. Banco Espirito is off 17% today and more than 50% over the last month.
- Spain's IBEX 35 is down 2.4% and Italy's FTSE MIB is lower by 2%.
- Gold is higher by 1.5% to $1,344 per ounce and silver by 2.4% to $21.58.
- In other news, India disappointed gold bulls by leaving in place recent increases in gold import taxes in its just-released annual budget. The previous government over the last two years had boosted the import tax to 10% from 2% and mandated that 20% of imports had to be re-exported.
- GLD +1.1%, SLV +1.9%
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, AGOL, DGLD, OUNZ, TBAR, USV, UBG, GLDE, GYEN, GLDL, GLDS, GEUR, GGBP
Tue, Jul. 8, 1:00 PM
- BlackRock chief investment strategist Russ Koesterich isn't buying the last month's 12% bounce in silver, attributing the move instead to the metal's typical volatility. Further, he says H1's drop in real interest rates - a boost to the metal - is unsustainable as the year goes on. "This suggests a tougher second half for precious metals, particularly for gold, which has historically had the stronger relationship with real rates.”
- He also notes the silver-to-gold price ratio as near the historical average, suggesting silver isn't mis-priced, at least as it relates to gold.
- ETFs: SLV, AGQ, USLV, SIVR, ZSL, SLVO, DSLV, DBS, USV, SIL, SLVP, SILJ
Fri, Jun. 20, 4:15 PM
Thu, Jun. 19, 3:10 PM
- A nice-sized rally has turned into a melt-up for the precious metals and the companies that pull them out of the ground. Gold is up 3.9% to $1,319, its highest level in two months, and silver is ahead 5.7% to $20.90. GLD +3.6%, SLV +5.4%
- The gold miners (GDX +4.7%), and the silver miners (SIL +6.1%).
- A dovish interpretation of the FOMC news from yesterday makes for a nice excuse, as does the President's move to send 300 military advisers to Iraq to try and head off an all-out civil war there.
- Gold and silver ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, DGLD, AGOL, OUNZ, TBAR, USV, UBG, GYEN, GLDE, GLDS, GLDL, GEUR, GGBP
- Gold and silver miner ETFs: GDX, NUGT, GDXJ, DUST, GLDX, JNUG, JDST, RING, GGGG, PSAU, SIL, SLVP, SILJ
Thu, Jun. 19, 11:05 AM
- Now up about $30 per ounce since the FOMC announcement, updated Fed economic projections, and Yellen press conference yesterday, gold is just cents away from $1,300.
- Peter Boockvar notes the Fed may be ignoring recent warming inflation data (when pressed on the fast numbers, Yellen called them "noisy"), but gold may not be. In any case - with just 3 FOMC meetings to go until QE is over and rate hike discussions start in earnest - markets will have to keep a close watch on inflation figures in addition to labor market indicators.
- GLD +1.8%, SLV +2.3%
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, DGLD, AGOL, OUNZ, TBAR, USV, UBG, GYEN, GLDE, GLDS, GLDL, GEUR, GGBP
- Earlier coverage of FOMC/Yellen
Thu, Jun. 5, 3:08 PM
- The two - one a pioneer in ETFs, the other a commodities information provider - join the London Metal Exchange and CME Group in vying to provide a replacement for the silver benchmarking process.
- The ETF Securities proposal is based on the company's London-traded silver fund that's physically settled by the LBMA - the group looking for a replacement for the fix. "It's open, it's transparent, every bid and offer that goes into the auction can be audited and supervised," says ETF Chairman Graham Tuckwell.
- ETFs: SLV, AGQ, USLV, SIVR, ZSL, SLVO, DSLV, DBS, USV
- Previously: CME and LME vie for sliver "fix"
Tue, May. 27, 3:33 PM
- June gold fell to its lowest level in 15 weeks, settling 2% lower $1,265.50/oz., as "everywhere the investor looks, he sees nothing but a negative for gold today." Silver slipped 1.8% to end at $19.07/oz.
- Gold's drop despite increased violence in eastern Ukraine "is a telling sign that more weakness may be on the horizon," says Forex.com's Matt Weller; a shift in tone by Russia, which indicated its willingness to work with the new Ukrainian government and made strides toward a natural gas deal between the two countries, removed another support from the gold market.
- Also a factor is a round of stronger U.S. economic data showing a surprise increase in durable goods orders, improved housing data and rising consumer confidence, which is providing a lift to stocks; the expiration of June gold options also is adding to market volatility.
- Precious metals miners are among the day's weakest stock performers: ABX -3.4%, GG -3.8%, NEM -3.1%, SLW -3.4%, KGC -3.8%, AUY -4.1%, AU -6.5%.
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, DGLD, AGOL, OUNZ, TBAR, USV, UBG, GLDE, GYEN, GEUR, GLDS, GLDL, GGBP
Wed, May. 7, 3:11 PM
- Generally upbeat economic comments from Janet Yellen make for a convenient excuse for sizable declines in precious metals today, but then how do we explain lower yields at both ends of the interest rate curve? At 2.62% before Yellen sat down in front of Congress, the 10-year Treasury yield is now down to 2.59%, and the December 2015 Eurodollar contract - as good a proxy for worry over rate hikes as exists - has gained five basis points (higher price means lower chance of hike).
- Maybe more at work could be chatter about a de-escalation of tensions over Ukraine.
- In other news, the China Gold Association reports the country's total Q1 gold consumption at 322.99 metric tons, up 0.8% from a year ago. Consumption of gold bars, however, fell about 44% to 67.954 tons.
- GLD -1.4%, SLV -1.3%
- ETFs: GLD, SLV, AGQ, IAU, PHYS, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, GLDI, SLVO, DSLV, DGL, DBS, DGZ, DGLD, AGOL, TBAR, USV, UBG, GYEN, GLDE, GEUR, GLDS, GLDL, GGBP
Mon, Apr. 28, 1:00 PM
- "Silver has the worst story of all the metals," says Archer Financial's Adam Klopfenstein, noting plentiful supplies and its tendency to move alongside gold.
- HSBC expects a 3.4% increase in supply to 1.09B ounces this year alongside flat demand at 938M ounces. Partly fueling the supply growth are prices remaining above the all-in cost of production of $15-$17 per ounce, says the bank's Howard Wn.
- TD's Mike Dragosits, says silver ends its six-year slump in 2014, thanks to a recovering U.S. economy boosting industrial demand for the metal. A Fed being slower than expected on tightening monetary policy should also provide a boost. he says.
- ETFs: SLV, AGQ, USLV, SIVR, ZSL, DSLV, SLVO, DBS, USV, SIL, SLVP, SILJ
Tue, Apr. 22, 7:55 AM
- Gold and silver equities now appear more fairly valued, Goldman Sachs says, raising its sector coverage view to Neutral as it sees more responsible capital allocation, successful cost cutting initiatives, a refocus on maximizing free cash flow, and sound strategic portfolio optimization improving the positioning of select companies and offsetting its below-consensus outlook for commodity prices ($1,200/oz. gold from 2015 forward).
- The firm upgrades Barrick Gold (ABX) to Buy, believing the company's financial flexibility has significantly improved; ABX +1.8% premarket.
- B2Gold (BTG) is initiated with a Buy rating and C$4.20 price target, as Goldman cites imminent production growth from the Otjikoto project which enhances BTG’s free cash flow generation and should fund future development.
- Started at Neutral: AGI, FNV, BVN,.
- Maintained at Buy: GG, AUY, SLV.
- Sell: IAG, EGO, PAAS.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, JDST, GGGG, PSAU
Mon, Mar. 24, 7:57 AM
- Silver Bullion Pte - a Singapore supplier of coins and bars to retail investors - is opening the vault after sales doubled to 1.04M ounces last year, says founder Gregor Gregersen. “While prices dropped last year, we saw physical demand went through the roof." The vault could hold $390M worth of silver at current prices.
- The boosted demand comes not just as the price of silver drops, but as the price drops relative to gold - silver fell 36% last year vs. gold's 28% decline.
- The opening of this vault follows a 200-ton vault opened last summer by a different firm. Storage is now full.
- ETFs: SLV, AGQ, SIVR, USLV, ZSL, DSLV, DBS, SLVO, USV
SLV vs. ETF Alternatives
The objective of the iShares Silver Trust is for the value of the shares of the iShares Silver Trust to reflect, at any given time, the price of silver owned by the iShares Silver Trust at that time, less the iShares Silver Trust's expenses and liabilities.
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