![]() ![]() ![]() David Karsbøl, a market analyst with Denmark's Saxobank, doesn't buy that argument, saying "even if prices double or treble from here, most users will probably buy the same amount of silver, because it will have no impact on the final price of the goods they are producing." But he acknowledges that there's not a lot of silver floating around in the market. Those commentators, led by the Silver Users Association, which represents members that it says process 80% of the silver used in the U.S., have argued that the silver market is too illiquid to support the demands of ETF (each share will represent 10 ounces, initially), and that a resulting scarcity of silver could force job cuts. "We fervently believe that a product's potential success should be based on the performance in the marketplace rather than any potential or hypothetical concerns of a small number of commentators motivated by their own commercial interests." "The listing and trading of the Silver Shares will benefit the marketplace by providing greater liquidity and investor choice," he wrote in a Feb. ![]() Neal Wolkoff, chairman and CEO of the American Stock Exchange, where the silver ETF is to be listed – the first new listing, it should be noted, on the Amex by BGI since Barclays decided to yank 81 ETFs from the Amex last summer – argued forcefully in favor of the fund. Since market leader Barclays Global Investors filed for the iShares Silver Trust nine months ago, both the pro- and anti-ETF forces have mustered some substantial, and some less substantial, arguments on either side. exchanges, but few, if any, have been the subject of such wild speculation, and consequent heartburn, as the proposed silver ETF. There are now more than 200 exchange-traded funds listed on U.S. ![]()
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