Loading ...COMEX Silver Inventories also at New All-Time Highs
Hi Bill
COMEX open interest isn’t the only thing now at a new all-time high in the silver market; silver bullion stored at COMEX approved storage facilities is also at a new all- time high: 289.39 million ounces. The old high water mark in silver inventories was 283.73 million ounces in March 1992, as seen in the chart below.
When dealing with anything having to do with the CME’s precious metals exchanges I always keep the foot note seen at the bottom of its inventory report in mind.
Mark
The information in this report is taken from sources believed to be reliable; however the Commodity Exchange Inc. disclaims all liability whatsoever with regard to the accuracy of completeness. The report is produced for informational purposes only.
Foot note to CME’s Group Silver Inventory
What to make of it?…
*On the surface it is bearish, connoting excess supply.
*But so has been JP Morgan’s visible supply on the books. Theoretically, what JPM has on their books ought to be bullish, but it has been a noticeably bearish factor in the silver market for a long time.
*Did JP Morgan put physical supply on the Comex to aid their short futures trading?
*Is this all-time high silver inventory for real? The footnote above? How can the CME not verify what the Comex has?