May 23 Silver Vaults (ozt)
PSLV
SLV
1.1M
COMEX
795KCOMEX withdrawals are now ~38%
of May26 delivery requestsCOMEX [R] run rate
631dCOMEX [E] run rate
534dCOMEX 5-21
605K ozt (18.8t) in Asahi1.4M ozt (43.5t) from Brinks (1.2M), MT&B (199K) moved between [E] and [R]COMEX Run Rates
Remaining Vault Stock = 313.9M ozt (81.7M [R], 232.2M [E])
Net withdraw rate through last 5 days = 249K/day
@ 52% [R], run rate = 81.7M / 130K = ~631 (working) days
(~31.5 months)@ 100% [E], run rate upper bound = (232.2M - 82.2M) / 249K = ~602 (working) days
(~30 months)@ 100% [E], run rate lower bound = (232.2M / 2) / 249K = ~466 (working) days
(~23.3 months)@ 100% [E] run rate mid point/avg = 534 (working) days
(~26.7 months)COMEX May26
May26 contract cumulative deliveries = 5,684
May26 contract equivalent ozt = 28,420,000
Actual withdrawals in May ozt = 10,732,281.57
May withdrawals are now ~38%
of May26 delivery requests. See here for historical context.COMEX Commentary
Thursday's 795K ozt net withdrawal grew the 5 DMA withdrawal rate significantly (as expected). The 5 DMA window has two more net deposit days ready to roll out of the 5 day window, so continued net withdrawls will see the withdrawal rate grow and the run rates shrink.
SLV Share Lending
10M Shares available
Borrow fee fell from 0.39% to 0.38%
Interactive Brokers reports minimal borrowing activity yesterday.
SLV Assets
Blackrock:
1.25M sharesJPM:
1.1M ozt (35.2t)SLV recovers nearly all of the Monday + Thursday drain, ending the week with a net drain of 271K ozt. London vault stock is back up to ~407M ozt.
PSLV
unitsoztozt/units ratio 0.34112
PSLV being quiet like a ninja (again).
~~~
Previous report: https://www.pmbug.com/threads/silver-market-260522.8945/
Last edited: