for everyone's reading enjoyment http://www.arabianmoney.net/gold-si...m-polish-producer-kghm-in-the-past-12-months/
HSBC is custodian for SLV which supposedly recently received a big allocation of silver registered in one day. Its too late at night for my brain for me to do the math but is $860 million anywhere near 572 tonnes by any chance ;-) They've probably been drip feeding it into SLV then registered it.. Keep Rocking
$860 million @ $30 an ounce gives you 28,666,666 troy ounces of silver. Divide that by 32.15 to kilograms gets you 891,653 kgs of silver. 1,000 kgs to the ton so its 891 tons of silver.
FSN reported it was 572tonnes... So a 300+tonne discrepancy?!! http://financialsurvivalnetwork.com...f-silver-in-one-day-more-than-in-all-of-2012/
The 12th topic in the list has this very same subject. http://forums.silverstackers.com/to...ilver-in-one-day-more-than-in-all-of-201.html During 2011 march+april they bought near to 8000 tonnes. Then they dumped it all again. So I wonder, should I, as a silver stacker thus long term holder, care? I'd rather prefer that that amount silver was bought by and delivered to stackers instead of this paper-represented play. This topic is old, and outdated news too. Because in meantime, half of that 'record 572 tonnes', was already dumped again. But I guess news like this has to be parrotted into eternity, as to create a hype that should make people buy more silver. I think we all know what happens after a hype.
The topics article gives this article as source: http://www.goldcore.com/goldcore_blog/silver-bars-being-secured-hsbc-–-buy-876-million-worth-poland There I read this: It's a total over a year, so that 300 tonnes was from earlier. Rather funny, and also typical, your article claims that the price didnt move and derives various 'wonderings' from it. But the price DID move during the last 12 months. Only that, well, in the end, it's not that much silver. The Comex futures market players added a rough 30000x5000=4665 tonnes silver since juli/august to the price. So SLV wasn't the big price mover here, the Comex was.
