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IShares Silver ETF has $1 Billion Outflow—Worst Week Ever

 
Anonymous Coward
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05/06/2011 05:50 PM
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IShares Silver ETF has $1 Billion Outflow—Worst Week Ever
A record $1 billion of outflow from the iShares Silver Trust in the week ended Wednesday helped feed silver's torrid price decline just as the fund's earlier inflows aided the prior rally.

Many more small investors can trade the iShares exchange-traded fund than participate in the precious metals futures market, and that can exacerbate the volatility of day-to-day price moves, investors said.

"The ease of access from exchange-traded products can be the tail that wags the dog," Roger Nusbaum, chief investment officer at Your Source Financial in Phoenix, Ariz., said. ETF trading and share redemptions "can be a disruptive force in the short term but it is the sort of thing that will flame out."

Silver's five-day losing streak that cut prices by almost a third did indeed "flame out" on Friday, as spot silver gained 4 percent and the iShares fund [SLV 34.48 0.759 (+2.25%) ] rose 2.1 percent in midday trading on the New York Stock Exchange.

With volume of over 160 million shares, the silver ETF was the second-most actively traded U.S. equity on the day, trailing only Citigroup [C 4.52 0.04 (+0.89%) ].

[link to www.cnbc.com]
Anonymous Coward
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05/06/2011 05:54 PM
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Re: IShares Silver ETF has $1 Billion Outflow—Worst Week Ever
SLV traders are really just papertards
slinger
User ID: 1277515
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05/06/2011 05:58 PM
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Re: IShares Silver ETF has $1 Billion Outflow—Worst Week Ever
If the worst week ever has silver bouncing from 35 to 39
dollars that aint bad,at the end of the day it still is holding good value, no matter how you look at it its a safe bet,more than a stock that can go to being worth the paper its printed on!

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