Bullion banks sell even more silver: Do they have it?

Bullion banks sell even more silver: Do they have it?


Garrett Goggin has been keeping an eye on COMEX silver deliveries. He notes a huge difference between this year and last.
Delivery demand is roughly 20 times what it was for this period last year.

===== snip ======

Demand for physical metal keeps accelerating and the COMEX bar inventory continues to fall.

Bullion dealer inventories are low and demand for retail bullion products has never been higher.

Even thousand-ounce bar premiums are elevated, which is an extremely rare occurrence. Rising lease rates in London imply an inventory shortage across the pond.

It is an extraordinarily dangerous time for bullion banks to continue selling silver they don’t have. Their play is to destroy sentiment and shake investors out of the market. Thus far, at least on the physical front, this effort appears to be backfiring.

[link to www.fxstreet.com (secure)]

- MC