18.09.2014 - Silver ETP Buyers Defy Hedge Fund Exit Amid Price Slump
Buyers of exchange-traded products backed by silver are betting $11.86 billion that big speculators are wrong about the outlook for prices, which slumped last week to a 14-month low. ETP holdings are up 1.5 percent since mid-July to 19,898.8 metric tons, nearing a record reached in October, data compiled by Bloomberg show. At the same time, money managers shrank bullish wagers by 95 percent, government data show. To protect against the risk of lower prices, producer Coeur Mining Inc. (CDE) has hedged about a third of its output...........................................Full Article: Source
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