May 23, 2011

Commodity Silver ETF Report 23 May

The fresh reports of commodity Silver ETFs indicate that that the slump of silver market is still in continuation and not over yet and this is the recent research note of Commerzbank.

According to Commerzebank the biggest silver ETF, iShares Silver Trust showed a reduction in its 243 tons of holding, some 2.4% of the total volume. About 10% has flowed out of the ETF since the end of April Month. 

The reported that the Silver ETF's speculative overheating  has not been fully reduced yet. 

The commodity silver prices has hovered around $35 an ounce and prices are likely to find a long-term base between $25 and $30 in the summer.

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