SLV adds 572 tons of silver in one day more than all of 2012

Unbeatable

Big Eyed Bug
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From ZH http://www.zerohedge.com/news/2013-01-17/slv-etf-adds-record-572-tons-silver-one-day-more-all-2012

Technically the addition of 572 tons, or a massive 18,378,092 ounces of physical silver, to the SLV ETF, in one day is not a record, as it excludes one amount which however was a year end rebalance at the end of 2007 offset promptly on the next day, but it certainly is the biggest one day addition of physical silver to SLV in ordinary course operations. It is also more silver added to the ETF in all of 2012, when just 544 tons were added in the entire year. This was driven by the creation of some 19,000,000 shares of SLV overnight which brought the total to 356.8 million shares. And since there has been no move in the price of silver, which certainly would have soared had this amount been purchased in the open market we can only assume this has to do with in kind basket creation taking place. Whether this was due to arbitrage, or simply the need to create inventory we don't know: we are confident however, that SLV custodian, money laundering expert extraordinaire HSBC, will have no comment. Just as there is no comment why in the days following the epic May 1, 2011 take down of silver, a nearly just as large 522 tons of silver poured out the ETF on May 4, 2011. What is certain is that a move of this size is certainly notable.



So please stop saying there is a shortage in the silver market, if these guys can get 572 tons in one day without moving the price there is obviously more than enough to go around...
 

Jetstream

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So they can lay their hands on that amount of silver overnight, but the Fed can't get Germany's gold back to Germany in under 7 years?
 

ILOVETRADING

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These guys should go talk to Apple they might want some of that apparently :rotflmbo:
 

Jetstream

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Nick Laird puts out a graph on a regular basis on the silver shortage, called "Concentration of Traders in the CFTC COT's"

He looks at the 4 largest traders and the 8 largest traders in silver.

As of Jan 15 the short position held by the 8 largest traders is equivalent to 150 days of WORLD production.

It's all a house of cards and the gale force winds are blowing in its direction.
 

ancona

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Until paper and metal decouple, I think the games will just continue. With most of the silver market involved in un-backed apper, I can't understand how paople keep getting suckered in to it.
 
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