from "SLV ETF Shows 4.9 Million Ounce Withdrawal" -Ed Steer's daily report - at http://www.caseyresearch.com/gsd/
".... But, over at the SLV ETF, an eye-watering 4,494,034 troy ounces were withdrawn. That's pretty close to being a one-day record withdrawal from SLV. Considering the price action in the last few days, it's obvious that someone desperately needed the silver they had stored there...and withdrew it. Or they purchased the shares...and immediately withdrew what they just bought...leaving Blackrock with the problem of replacing it.
As astonishing as that SLV withdrawal was...the U.S. Mint had a little surprise for us yesterday as well Their sales report showed that they sold another 12,500 ounces of gold eagles, along with a gargantuan 1,181,000 silver eagles. Month-to-date, the U.S. Mint has sold 75,500 ounces of gold eagles...and 4,588,000 silver eagles. This is a one month record for silver eagles sales...and I've seen full years go by when they didn't sell that many eagles...and 1996 comes to mind when only 3,466,000 were sold in the entire year. Those eagles are selling for a very healthy premium to spot.
Also of note is the gold/silver eagle sales ratio. Silver eagles are outselling gold eagles 367 to 1. My bullion dealer's gold/silver sales ratio is around 1,000 to 1. One has to wonder how much longer it will be before investment demand absolutely buries the '8 or less' traders. I make it an absolute unshakeable rule that I buy some silver bullion every month without fail. Like the headline of my column said yesterday..."Sell gold, buy silver". ...."
