Silver ETF Coming Soon-A Great Way to Play Silver

Barclays is in the final stages of launching the Silver ETF. It will mimic what GLD is-the Gold ETF, which for all practical purposes is the same as buying hard Gold (not Gold stocks). The GLD funds are gone directly into purchasing Gold Bullion and are stored in associated Banks in London. The Silver ETF will do the same thing. The announced symbol is ESV, and the instrument will change on the American Stock Exchange. On Apr 21, Barclays Capital Inc. deposited with the custodian of a planned silver exchange-traded fund 1.5 million ounces of silver to back 150,000 shares, each representing 10 ounces of silver.

Today silver showed a healthy bounce, with a gain of 6.7%. The metal closed at $12.56 an ounce. Copper continues its mind boggling rally, closing up another 6% to $3.27 a pound. Metal demand from China and India is cited as the most plausible explanation for this basic bull. This trend should continue for years to come; but right now, the markets looks a bit overextended (see my previous posts).