Still Bullish On Silver

I was curious about the quantity of silver held by iShares Silver Trust (SLV). According to its website, the trust holds approximately 92.4 million ounces of silver. On 17 May 2006 I wrote an article Pan American Silver Corp. and mentioned that iShares held 69 million ounces of silver. I find this increase in silver holdings interesting because many pundits had erroneously forecasted that the increase in silver prices was merely a bubble. If it were a bubble, then I would have expected the silver holdings to have decreased, especially as the Fed increased rates. I remain bullish on silver.

As a matter of disclosure, I remain long shares of Pan American Silver Corporation (PAAS).