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6 MILLION TOZ SILVER PURCHASE BY CEF

This forum is for discussing hunting and collecting US and Canadian circulation Silver Bullion Coins, other types of minted bullion, and other types of precious and base metal investments other than Bullion Pennies and Nickels.

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6 MILLION TOZ SILVER PURCHASE BY CEF

Postby Country » Tue Mar 29, 2011 8:34 pm

What's your take on the 6 MILLION TOZ purchase of SILVER that will take place over the next week or so by CEF?

Will a 6 MILLION TOZ acquistion of SILVER have an impact on the available SILVER supplies held by the bullion vaults?

CEF is having a rights offering as of today that will accrue them $374 MILLION for the purchase of PHYSICAL GOLD AND SILVER. At current prices, CEF will obtain from existing bullion banks approximately 6 MILLION TOZ OF SILVER AND 120,000 TOZ OF GOLD.
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Re: 6 MILLION TOZ SILVER PURCHASE BY CEF

Postby beauanderos » Tue Mar 29, 2011 11:01 pm

Just because you have the money doesn't mean you can source the physical. Both Sprott Asset Management and Canadian Royal Mint are having trouble finding supply in large quantities. Maybe that'll give the market a boost? :shock:
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