what is the ticker symbol for silver.
Answer: SLV
SLV is not physical silver it is an ETF.
iShares Silver Trust (the Trust) owns silver transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of silver held by the Trust's custodian on behalf of the Trust. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor). The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).
The activities of the Trust are limited to issuing Baskets of Shares in exchange for the silver deposited with the Custodian as consideration, selling silver as necessary to cover the Sponsor's fee, Trust expenses not assumed by the Sponsor and other liabilities and delivering silver in exchange for Baskets of Shares surrendered for redemption. Each deposit of silver for the creation of Baskets of Shares and each surrender of Baskets of Shares for the purpose of withdrawing Trust property (including if the trust agreement terminates) must be accompanied by a payment to the Trustee of a fee.
To answer your question specifically, the ETF I mentioned are designed to move based on the price of gold. And that's about 99% of the case. However, as with all ETFs, there's a minuscule difference between the price of the ETF and the underlying assets. That is due to the way ETFs trade. Large market makers trade them to hold their values close to the values of the assets they own.Sometimes the value of the ETF can be slightly different.
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