24Knews Silver Thread

[Pixel8r]

Welcome to the new 24Knews Silver thread.

The old 24k Silver thread is available here in read-only mode - http://old.24knews.com/viewtopic.php?f= ... 367e3906a6

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Repeating this link from the old site, as it seems a good place to research silver currently;

https://www.reddit.com/r/Wallstreetsilver/

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I am excited by what is happening in the silver market. I honestly think the time we have all been waiting for is fast approaching.

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Positive new blood entering the market. Shame the new Reddit crowd appear to mainly be buying ETP's though.

LBMA acknowledges “Buying Frenzy” in Silver Market and silver shortage Fears

The London Bullion Market Association (LBMA) has just published a new report titled “Silver Investment 2021: Report” which looks at recent developments in the investment silver sector.

While it’s not clear who actually wrote the report, as no author is specified, the LBMA states that it “acknowledges Metals Focus’ contribution to this report” so we can assume Metals Focus actually wrote it or was heavily involved. Metals Focus is a precious metals consultancy based in London, which also at times, writes the Silver Institute’s annual World Silver Survey.

That the LBMA has decided to publish a specific report on investment silver at this time is notable in itself (as it hasn’t published this type of distinct report in the past), but beyond this, the report itself is worth reviewing for what it says, as much as what it leaves out.

Pitched as a “Spotlight on Silver Investment, a report which explores the key developments in silver investment over the last 12-18 months”, the LBMA report (which is quite short at 15 pages) focuses on recent trends in demand for silver Exchange-Traded Products (ETPs), silver coins and bars, and the in silver futures market. It also surprisingly mentions the #Silver Squeeze in great detail, which is refers to the “much-publicised social media campaigns” and a “social media buying frenzy” of silver bars and coins, and silver ETPs.

The report begins by commenting that “the past 12-18 months have witnessed some incredible developments in the silver investment market, including a dramatic improvement in investor activity”, and that the combined demand from silver bars, coins, ETPs and futures positioning rose by about 20% in 2020, with the growth in this trend carrying over into the first quarter of 2021...

...Surprisingly, the LBMA report acknowledges that strong inflows into silver-backed ETFs in late January and early February, if they had persisted, could have led to the LBMA London vaults running out of acceptable (good delivery) silver bars for the ETFs. The LBMA report states that:

“Early 2021 saw an unprecedented 110Moz added in just three days. Although some liquidations emerged, there were concerns that London would run out of silver if ETP demand remained at a high level.”

and

“this year, the location of the custodial vaults has come into sharper focus as ETP demand has jumped, leading to concerns about the potential availability of metal.”

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Mexico mining suspension to hit silver supply

Mining in Mexico has been shut down by government decree until the end of April as part of measures to contain the COVID-19 virus outbreak, having not been granted an exemption as an essential service.

Under the government decree, non-essential activities are to be suspended immediately until April 30.

The decision is expected to have a significant impact on the supply of silver at a time when demand for silver coins is high. Mexico is the world's largest silver producer at some 23% of world production and produced more than 200 million ounces in 2019, up from 196.6 million ounces in 2018...