I want to begin with a review of what I learned by my study of the Silver Comex. Find the latest Sprott Physical Silver Trust ET (PSLV) stock quote, history, news and other vital information to help you with your stock trading and investing. Investors who wanted direct exposure to the precious metal used to be limited to futures contracts and physical metal.

While ETFs using silver derivatives can deliver returns similar to physical silver, they also come with unique conditions like backwardation and contango. PSLV (which stands for Polar Satellite Launch Vehicle), GSLV (which stands for Geosynchronous Satellite Launch Vehicle) and ASLV (Augmented Satellite Launch Vehicle) are expendable satellite launch systems … If there is a physical shortage, and I believe that these cash speculators are showing that it is very real, it should follow through to the price of the metal. Investors wanting to redeem less than 10 bars must wait until their redemption orders are combined with others to reach the 10-bar minimum, exposing them to fluctuations in silver prices. But that changed with the 2006 advent of exchange-traded funds that hold physical silver. I want to begin with a review of what I learned by my study of the Silver Comex. By reviewing the ETF's investment objectives, investors can learn what underlying assets are used to achieve performance goals and can avoid investing in assets they don't understand. That payoff was likely far above the spot price, meaning that they were able to pare some of the losses incurred during the silver crash, though I believe more than a few actually made money. While in case of PSLV with vehicle load about 295-320 tons, can launch payloads upto 1678 kgs in sun synchronous orbit of 622 kms. As a friend of mine said, if you want to own a large amount of physical gold and silver, you also better own a gun and prepare yourself to use it.

It boasts an average daily trading volume of more than 11 million shares and is backed with physical silver held by a third party in New York and London.

It is real and it is undeniable. According to the prospectus, redemption orders must be for at least 10 bars, each weighing approximately 1,000 troy ounces. These speculators, as much as they are dismissed as greedy and evil, are performing a simple task that all markets are supposed to feature: Price discovery. Although several ETFs track the price of silver, only three are backed by physical silver.

The Best Way to Evaluate Mutual Fund Choices→, What Are Good Long-Term High Risk Investments for a Roth IRA?→. I believe that I missed the bottom at $32.50, but in light of what I see ahead, I don’t think missing the bottom by a few dollars will make a great deal of difference. Going back to May, 2,166 contracts stood for delivery in the silver futures market. For example: In case of ASLV  with vehicle weight of 41 tons, can launch payloads of 150 kgs into space upto an orbit of 400 kms. It boasts an average daily trading volume of more than 11 million shares and is backed with physical silver held by a third party in New York and London. I will be looking for a run up to $60.00. Units are redeemable for physical silver in minimum basket sizes of 50,000 units.

Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. In the first two days of July, 697 have already given up their claims compared to only 120 contracts filled by supposed physical delivery.
funds into their Comex account to fully prepay silver delivery and then just accept a cash settlement? The average daily volume exceeds 1 million shares. Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in PSLV over the next 72 hours.

These ETFs provide direct exposure to silver without the risks of futures or the headaches of physical ownership.

It is not a trade for the faint of heart. Is there any other possible financial reason that contract holders would take the trouble to deposit funds into their Comex account to fully prepay silver delivery and then just accept a cash settlement? A look at these charts will show that during the last move in silver, both ETFs acted in an identical fashion. I believe this we will soon see the final stages of the silver paper market. Owning physical is cumbersome and dangerous. Alternatively, contango is a market condition where futures prices are higher in the succeeding delivery months and erodes ETF returns from that of physical silver prices. By the end of the first full week, two-thirds had accepted cash settlements to forgo claims on physical metal.

Please see the charts of SLV and PSLV below. The Sprott Physical Silver Trust is generally exposed to the following risks. A look at these charts will show that during the last move in silver, both ETFs acted in an identical fashion.


Is there any other possible financial reason that contract holders would take the trouble to.

Each unit represents one ounce of silver. The price of silver going into July has been pretty steady, though volatile. Paper transactions are only as good as the faith investors put in them and that faith is the confidence that reserve creators (Comex) will not get overextended.

This is the youngest ETF in the physical silver group, opening in 2010. SLV has always been a very volatile trade; if you bought into it, you did so with the knowledge that it could turn on a dime. PSLV is backed with physical silver held at the Royal Canadian Mint in Ottawa, Ontario. Follow George Maniere and get email alerts, Last weekend I did a lot of study on the Silver Comex, the Silver ETF. The silver market is not intended to be an OTC Pink Sheet marketplace, yet it is behaving like one. Last weekend I did a lot of study on the Silver Comex, the Silver ETF (NYSEARCA:SLV) and the Sprott Physical Silver ETF (NYSEARCA:PSLV).

Not all silver ETFs are the same. I do so because I feel more comfortable knowing that the ETF is truly supported by the underlying asset. With an inception year of 2006, SLV is the oldest ETF containing physical silver.

The Comex should welcome the recognition of the shortage as it would drive the price up. Anyone with a brokerage account can invest in silver indirectly through mining stocks and mutual funds. SLV is a paper vehicle and I suspect that investors would be somewhat perturbed to find out that the current valuation of the fund is far below what these “in the dark” transactions would be if they were brought into the price discovery process.

I feel that silver has punished the speculators and weak hand investors enough, and next week I plan on opening the silver ETF trade ... but this time I will use PSLV. Please see the charts of SLV and PSLV below.

I studied this ETF and was very impressed with Eric Sprott.

The fact that so many people are taking the cash route so early in July leads me to conclude that a hefty premium is being paid to compensate contract holders to give up delivery rights. And in GSLV with vehicle weight of 415 tons, can carry upto 5000 kgs in orbits of 550 kms.

That begs the question: How can I play the Silver ETF trade?

Financially, the huge mismatch between the strike and the spot was unappealing enough for May contract holders to accept a cash payoff. The price of silver going into July has been pretty steady, though volatile. There is a divergence in the real price of silver and the published price -- and if called to do so, SLV would not be able to produce the underlying silver it purports to be representing. Investors wanting funds backed by physical silver should read prospectuses carefully, as some use futures and options to track the price of silver. In my opinion, there is no debate regarding any physical shortage of silver. To report a factual error in this article. The fact that so many people are taking the cash route so early in July leads me to conclude that a hefty premium is being paid to compensate contract holders to give up delivery rights.

The PSLV (Polar Satellite Launch Vehicle) and GSLV (Geosynchronous Satellite Launch Vehicle) are two rocket launch systems developed by the Indian Space Research Organization, or ISRO, to launch satellites into orbit. After my study, I am convinced of two things. I conclude the Comex is doing the opposite. ETF Securities manages the Physical Silver ETF (symbol SIVR), which has seen silver's price fluctuate widely since its start in 2007.

As you recall, in the first week of May, silver cratered from $50.00 an ounce to $32.00 an ounce in one week. I believe that I missed the bottom at $32.50, but in light of what I see ahead, I don’t think missing the bottom by a few dollars will make a great deal of difference. SLV that stands for Satellite Launch Vehicle, was a project started by the Indian Space Research Organisation (ISRO) and was headed by APJ Abdul Kalam in the early 1970s, to develop the technology needed to launch satellites. BlackRock subsidiary iShares manages the Silver Trust (SLV). If the Comex has to resort to raising margin rates and paying premiums to investors not to take delivery on the physical asset I believe it is fair to say that they may well have already gotten themselves overextended. The fact that I believe this continues to be a problem suggests to me that it is a big problem.


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