So far this year, 12,996 silver contracts have been stood for delivery, representing nearly 65 million ounces (over 2,000 tonnes). As an industrial metal, demand is strong due to demand for solar panels and other critical energy and electronic applications. Manufacturers are bypassing markets, dealing directly with refiners, and refiners are also dealing directly with mines and intermediaries such as Glencor. In that context, to lose an annualised 4,000—5,000 tonnes through deliveries out of the market becomes a real problem for the bullion bank traders who make up the majority of Comex Swaps.
Nearly 240 tonnes of gold have been delivered out of Comex since 1 January, which is less of an issue because of the higher trading liquidity. Nonetheless, the Comex gold contract was not intended by its users to be a delivery market, and with 55 tonnes delivered in the last seven trading sessions, it is clear that deliveries are a rising tendency.
Signs of the collapse abound, Kientz says, asserting that manufacturers that require silver are already bypassing bullion bank brokers and purchasing metal directly from mines.
Kientz also discusses his involvement with the "sound money" movement in the United States.
March 24, 2024 -
SILVER INVESTORS ARE MONTHS AWAY FROM RETIREMENT AS SILVER IS GOING TO HIT $1528 IN 2024 | RICK RULE
Is there supposed to be a decimal point between the 2 and 8 ?I'm bullish on silver but I think a price target of $1,528 in 2024 may be a tad optimistic.
Might be some great balls of fireTotally agree, SLV on a firm break higher:
Obviously will need to clear that short term resistance at $28. Gold's momo will carry silver through that point.
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jog on
duc
Price channel from mid 2022 suggests it's nearly at the top of the range ~28, with the lower range of ~24.
I can see why everyone is getting excited, but ...
And I bid you notice how Schectman's eyes swivel around all the time, it might be neurological but I suspect it's a personality type - wired up and lives entirely in his head.
Reminded me of these lyricsAnd I bid you notice how Schectman's eyes swivel around all the time, it might be neurological but I suspect it's a personality type - wired up and lives entirely in his head.
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