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Silver Price Watch

Smithys Bullion - FINE GOLD AND SILVER
pmbug said:
Last week in silver:

SGE silver vault - loses 34.6 metric tons
SFE silver vault - adds 65.4 metric tons
SLV London vault - adds 115.9 metric tons
COMEX silver stock - adds 40.6 metric tons
LBMA silver stock - ??? (no data because LBMA is run by dinosaurs)

Global net change (less LBMA):
PSLV silver vault - added 90.3 metric tons over the month of June (from June 3 to July 1)
June 23-27 = +187.3 metric tons
June 16-20 = +101.4 metric tons
June 9-13 = +124.09 metric tons
June 2-6 = +396 metric tons

Global silver vaults (excepting LBMA dinosaurs) report increasing their stocks by 899.1 metric tons over the month of June. Does it seem like silver is in a structural deficit (global demand > global production) to you?

LBMA monthly report for June is due on July 8. Will they also claim an increase to their free float (ie. an increase more than the ETF stock in their system)? If they do, where did all these good delivery bars come from?
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View: https://x.com/pmbug/status/1940362423892095020

pmbug said:
I wonder if @JoshPhilipPhair , @FirstMintLLC or any other silver mint insider might offer some insight on the potential tightness of silver supply for minting retail products? Are refiners diverting new silver supply to LGD bar production? Is the minting of retail bars and rounds facing increased constraints from limited supply?
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View: https://x.com/pmbug/status/1940371113365962902
 
Friday is 4th of July holiday here in the USA - markets are closed.
 
Silver Soul said:
We are so close to the glory hole.
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I'm negative for saying this but something doesn't feel right. Also, I've never really understood the whole rolling over of commercial short positions? There have been claims that the commercial banks have long-standing short positions and see significant unrealised losses when the price goes up. Has anyone ever heard of these claims? I've never looked into it, so I don't actually know for sure. If it were the case then there'd be an expectation the commercials would need to heavily short silver and push the price down to a level where they can finally close off their positions to allow silver to climb in price significantly. When I think about that, the whole idea of perpetually rolling over of shorts seems unrealistic.
 
I understand your caution. Only because I have followed the silver train for a long time. I have seen a few ups and so many downs with silver and wonder why I still hold it.
 
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