Barclays silver ETF stirs speculative talk once again By Jon Nones 24 Jan 2006 at 02:37 PM
March silver futures rose 12.7 cents to $9.20 an ounce, in a range from $8.945 to $9.235. Spot silver was at $9.12/9.15 an ounce, above its last New York finish at $9.00/9.03.
According to Reuters, there is renewed speculation that Barclays Global Investors' proposed silver exchange-traded fund (ETF) might yet receive U.S. regulatory approval and be developed for the market, traders and analysts said.
"If silver breaks $9.30 it has room up to $10, so I think that's what people are going to start to focus on," said the precious metals desk trader.
"That's the market that has the best return, potentially, regardless if the ETF expectations are true or not."
"Silver seems to have already entered a period of consolidation, which could lead to silver breaking out to new highs as gold continues to trade within its recent range," said Trends In Commodities' Dale Doelling, quoted in MarketWatch.
MMN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
