Andy Schectman: JP Morgan Transfers 14 Mil Oz Of Silver From Eligible To Registered In Last 2 Days

The September silver delivery cycle begins in just a few days, and there’s been a large chunk of silver on the move.

Over the past 2 days, JP Morgan has transferred 14 million ounces of silver from eligible to registered, which leaves them with just under 14 million ounces left in their eligible category after factoring in what they’re holding on behalf of the SLV ETF.

At the same time, there’s also been a reduction in the amount of shares available to borrow in SLV. All of which Andy Schectman of Miles Franklin talks about on today’s show.

Andy comments on the recent developments, the move higher in the silver price following the banks getting long silver, and some of the other news that’s come out in the past few days.

So to stay up to date on the latest activity in the silver world, click to watch this video now!