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iShares silver ETF holdings rise to record 6,092.31 tonnes

Fri Jul 18, 2008 6:41am EDT

LONDON, July 18 (Reuters) - The stock of silver held by iShares Silver Trust SLV.A, the largest silver-backed exchange traded fund listed in New York, rose to a record 6,092.31 tonnes on July 16, the trust said.

A 30.76-tonne or half-a-percent rise from the previous day's level took the trust's holdings to their highest point since it was launched in 2006.

Analysts say that with physical consumption of silver lacklustre after a drop-off in demand from the photographic industry, the market is keenly eyeing investment demand as a support for prices.

Spot silver XAG= traded on Friday at $18.54/18.59 an ounce, up from $18.39/18.48 late in New York on Thursday.

(Reporting by Jan Harvey; editing by Christopher Johnson)



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