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A true physical silver shortage is signalled when multiple market layers—futures distortions (backwardation), spiking lease rates, collapsing inventories across major hubs, and sustained regional prem...
COMEX “Issues and Stops” delivery reports are a primary, line‑level window into who is standing for physical silver, who is delivering it, and how much metal is assigned as deliverable versus held as ...
Clear, contemporaneous reporting documents repeated episodes of sharply higher silver lease rates and falling visible inventories across London and Shanghai in 2024–2025: London’s short-term borrowing...
Lease‑rate series are a sensitive, high‑frequency gauge of market “tightness” — they spike when deliverable, exchange‑grade metal is scarce for short‑term loans — but they do not, on their own, distin...
Short-term moves in copper-mining equities are driven almost entirely by near-term copper price swings, news-driven supply shocks, and company-level operational updates, not by multi-year fundamentals...
Publicly traded companies that refine silver are mostly large integrated miners that operate smelters or minting facilities rather than standalone, exchange-listed refiners; notable examples include I...
Registered silver is inventory that has been warrant-tagged and is immediately deliverable against COMEX futures contracts, while eligible silver meets exchange quality standards but lacks that warran...
A sharp spike in silver lease rates in 2025 coincided with acute dislocations between spot and futures prices — spot premiums widened (backwardation) and many retail dealers reported shortages and “ou...
The evidence through late-2025 and early-2026 points to both genuine physical tightness in silver markets and distortions generated inside the paper (futures/ETFs) layer of trading; the question is wh...
Egon von Greyerz’s claim that “every single 1000 ounce silver bar is unique” rests on two distinct pillars: when bars are serial-numbered and client-registered, and due to refining, casting, and finis...