Sunday, October 30, 2011

Silver and Gold

J.P. Morgan or JPM is the custodian of SLV the etf and HSB bank is the custodian of the etf GLD. Both of these companies are accused of shorting silver and gold. Some are concerned about statements in the etf prospectus and the safty of the etf.  There will be a Sprott silver fund coming out with better conditions, it is recommended to sell the SLV and buy the Sprott silver fund. Some etf s are better allocated than others-- it is best for the fund to hold silver bars in their possession to back all of the etf.
    Metals and maybe markets may back off some this week which is another chance to buy into the metals markets. Stock markets should be profitable for the rest of the year. The European debt crisis is not solved.

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