from Gold Silver Worlds:
The price of silver is closing today’s COMEX trading session near $22.2, up $0.14 on the day. Silver closed London Fix at $22.09 and €16.15.
Year-to-date, silver is down 26.6%. It is trading 55% lower than its peak of $48.70 high on April 28, 2011.
Although the sentiment surrounding the metals is awful in the Western investment community, increasingly silver is showing strength. In this short article, Jeff Clark from Casey Research lays out the signals of strength underpinning the silver market.
Signal #1: SLV holdings slightly growing amid a mass exodus in GLD
Although the price of the silver ETF “SLV” is down 28.1% year to date, there are no outflows of the grey metal. That is in sharp contrast to the the major gold ETF, GLD, which lost 1/3d of its physical gold holdings since the beginning of this year.
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