One of the key trends in the silver market over the past year has been the steady drain of silver from the COMEX’s registered inventory. Which has gone from 150 million ounces during the silver squeeze weekend in February of 2021, down to 27 million ounces as of last week.
However, there was a big addition of 5 million ounces out of eligible into registered yesterday, which brings the registered category up to 32 million ounces ahead of the July delivery cycle.
The July deliveries begin late next week, and it’s possible that this silver is being added into registered to be prepared for delivery against July contracts, or also possibly some of the June contracts that remain open and have not been delivered on yet.
There was also a large addition of silver into the #SLV ETF this week, on Tuesday when the price was down significantly, and in today’s show, we look at the recent changes, as well as what they could possibly lead to. This episode also includes notes about a potential change to the gold market in August, as well as the soaring inflation in the United Kingdom, where there was another substantial interest rate increase on Thursday morning.
So to stay up to date on the latest financial news, click to watch the video now!