silver bullion

silver bullion

How to Make Money Like Warren Buffett - Investment Advice from Warren Buffett

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FREE Gold Investment Kit: http://2by.us/gold The silver market is much smaller in value than the gold market. The London silver bullion market turns over 18 times less money than gold.[18] With physical demand estimated at only $15.2 billion per year, it is possible for a large trader or investor to influence the silver price either positively or negatively. For example: From 1973 the Hunt brothers began cornering the market in silver, helping to cause a spike in January 1980 of the London Silver Fix to $49.45 per troy ounce, silver futures to reach an intraday all-time high of $50.35 per troy ounce and a reduction of the gold/silver ratio down to 1:17.0 (gold also peaked the same day in 1980, at $850 per troy ounce).[19][20] In the last nine months of 1979, the brothers were estimated to be holding over 100 million troy ounces of silver and several large silver futures contracts.[21] However, a combination of changed trading rules on the New York Mercantile Exchange (NYMEX) and the intervention of the Federal Reserve put an end to the game. By 1982 the London Silver Fix had collapsed by 90% to $4.90 per troy ounce.[22] In 1997, Warren Buffett purchased 130 million troy ounces (4,000 metric tons) of silver at approximately $4.50 per troy ounce (total value $585 million). On May 6, 2006, Buffett announced to shareholders that his company no longer held any silver. In April 2006, iShares launched a silver exchange-traded fund, called the iShares Silver Trust (NYSE: SLV), which as of November 2010 held 344 million troy ounces of silver as reserves.[23] A big driver for silver sales in 2012 was Morgan Stanley and their short position holdings. This has influenced the silver market, along with an apparent shortage of above ground silver available for investment. As silver continues to boom for industrial uses, less of the metal is available for physical bullion for investment. That, coupled with paper investment uncertainty, has driven the market prices wildly gold, silver, investment, ira, silver and gold, gold investment, https://www.youtube.com/watch?v=1sUsfHV7tJ0 Read more: http://casinoreviewblog.com/