Is The Multi-Month Consolidation In Gold, Silver and The Miners Ending? (NYSEARCA:GLD, NYSEARCA:SLV, NYSEARCA:AGQ, NYSEARCA:SIL, NYSEARCA:GDX) | ETF DAILY NEWS

Is The Multi-Month Consolidation In Gold, Silver and The Miners Ending? (NYSEARCA:GLD, NYSEARCA:SLV, NYSEARCA:AGQ, NYSEARCA:SIL, NYSEARCA:GDX) | ETF DAILY NEWS

TheSilverPrice.info

Jeb Handwerger: We are encountering storms in the market rarely seen.  The volatility has affected many mining equities with many high quality assets selling at record low prices.  Portfolios have rarely seen such see saw price activity as they have this year.  Sacrosanct rules are simply not working. The markets are thwarting and aborting attempts to use time tested approaches.

The great Scottish Poet Robert Burns described the current market by writing, “the best made plans of mice and men go oft astray.”  He also observed “alas in this world there is more offal than poetry.”  But poetry hardly pays and compost does.

Silver ETP Holdings Slump by Most in More Than Four Years - Bloomberg

TheSilverPrice

Silver ETP Holdings Slump by Most in More Than Four Years - Bloomberg

Silver holdings in exchange-traded products slumped by $626.9 million as prices traded near a three-month low and exchange stockpiles climbed, underscoring concern a global economic slowdown may curb demand.

Assets in ETPs lost 3.6 percent yesterday, the biggest one- day drop since January 2008. Silver dropped as much as 3.8 percent to $30.48 an ounce yesterday, the lowest price since Jan. 20, and traded at $30.9325 by 1:35 p.m. in London today.

Trader bets on quick drop in silver ETF - Yahoo! Finance

Trader bets on quick drop in silver ETF - Yahoo! Finance

As the iShares Silver Trust tumbled yesterday, a very short-term put spread topped option activity in the exchange-traded fund. 

The SLV finished the day down 2.54 percent at $29.97, its lowest close since Jan. 19 as it recovered from a 52-week low under $26 reached at the end of 2011. The fund was above $36 at the end of March and has been falling since.