Silver Demand Drivers (and vault totals)

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The manipulations to the paper silver market should be coming to an end shortly. CME margin raise yesterday didn't make a dent in the EFP spreads yesterday. Maybe they take effect Monday - we'll see. The short interest manipulations in China on the SFE were flagged and halted by the exchange (regulators). Meanwhile, lease rates are rising again in London signalling inventory is tight again. The physical market is about to impose it's will on the paper markets. $.02
 
It's weird, its the big stuff that seems to be gone first. SD is out of Kilo silver bars. Apmex has a couple at like $10 over spot. Even 100 oz bars are at like $10 over spot. Meanwhile 90% can be had under spot.

Absolutely this is industrial demand, that is what I see from those numbers.
 
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