Thursday, April 27, 2006

Silver ETF to begin trading

Barclays Global Investors silver ETF, iShares Silver Trust, is set to begin trading Friday on the American Stock Exchange (AMEX). The proposed ticker symbol is "SLV". The ETF shares will represent 10 ounces of silver held in vaults. For more info see Thursday's Marketwatch article.

Oddly enough, I haven't heard much on the progress of a seperate silver tracking fund that was to be launched on the London Stock Exchange. ETF Securities was preparing to launch an unbacked silver ETF back in March. Now that I'm searching around for info, I've found these recent comments from ETF Securities chairman, Graham Tuckwell:

Graham Tuckwell, chairman of ETF Securities, the firm that helped launch Gold Bullion Securities, said: 'We are going to be bringing a silver ETF on to the London stock market within the next month or so.'

See the full article here.