A commentary posted at Mineweb examines “registered” silver inventory held for delivery in COMEX vaults, and finds that “there is less than 4% of annual mine supply available for delivery. In our view this is further evidence that we have reached the technical end of the runway. Simply put, prices must rise in order to attract more physical silver into the delivery pool.”
Reuters reported earlier this week that the combination of “registered” and “eligible” inventory was at 28-month highs, but an article at Jesse’s Café Américain explained why “registered” is the more significant allocation, and noted that “The central banks may stand ready to lease increasing amounts of gold for sale into the markets if the price rises too fast … but they are fresh out of silver, and have been so for some time.”
MarketWatch: Gold ends 0.7% lower as demand is seen lacking; silver off 0.6%
GoldMoney: Mixed messages from silver sector
Jesse’s Café Américain: CFTC’s Bart Chilton discusses position limits
Globe & Mail: World Gold Council: Gold is still a hedge
Pragmatic Capitalism: Stock market: 10 more years of low returns
Wall St. Cheat Sheet: Are taxi drivers buying gold or Apple?
Equities.com: Gold and silver now accepted as currency in Utah
Peter Grandich: Dennis Gartman – Love him or hate him?
Rep. Ron Paul: Penny unwise, dollar insane
Dylan Ratigan: The Federal Reserve’s revolving door