A quick break from the daily reruns here is in order to note the new record high for the “tonnes in the trust” at the popular iShares Silver Trust ETF (NYSE:SLV) that now looks ready to make an assault on the 10,000 tonne mark.
A whopping 510 tonnes of the metal have been added over the last three weeks – more than $350 million worth – as more and more investors opt to trade in their paper money for a paper certificate that represents a share of the SLV holdings. With the metal now surpassing the $22 mark for the first time since 1980, look for even higher inventory levels in the future.
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