May 16 Silver Vaults (ozt)
PSLV
600K
SLV (NYC)
3M
SLV (London)
3M
COMEX
COMEX withdrawals remain ~26% of May26 delivery requests
COMEX [R] run rate
COMEX [E] run rate
SFE run rate
(as of May 15)SGE run rate
(as of May 8)COMEX 5-14
401K ozt (12.5t) moved from [E] to [R] in Loomis
COMEX Run Rates
Remaining Vault Stock = 315.1M ozt (80.8M [R], 234.3M [E])
Net "withdraw" rate through last 5 days = 558K/day DEPOSIT
@ 52% [R], run rate =
@ 100% [E], run rate upper bound =
@ 100% [E], run rate lower bound =
@ 100% [E] run rate mid point/avg =
COMEX May26
May26 contract cumulative deliveries = 5,505
May26 contract equivalent ozt = 27,535,000
Actual withdrawals in May ozt = 7,120,588.89
May withdrawals remain ~26% of May26 delivery requests. See here for historical context.
COMEX Commentary
Thursday's 0 ozt net withdrawal grows the 5 DMA deposit rate slightly. Run rates remain indeterminate with a net deposit rate.
Including Thursday, there have been four days of zero deposit + withdrawal activity reported since April 1. Previous to April 1, were no days (none, zero) with zero deposit + withdrawal activity going back all the way to October 1 (and likely beyond that - that's just where my data set ends [or begins] currently).
@AGgregator may have a more complete COMEX data set to review for this anomolous behavior.
SLV Share Lending
10M Shares available
Borrow fee rose from 0.39% to 0.41%
Interactive Brokers reports minimal borrowing activity yesterday.
SLV Assets
Blackrock:
1.25M shares*JPM (NYC):
3M ozt (93.3t)JPM (London):
3M ozt (93.3t)*The iShares website is not working this morning and I had to look up the share data from a 3rd party website, so I'm not 100% confident that the share data is correct.
As expected, JPM effected the SLV's curious mid-month silver swap yesterday.
If the share data is correct, SLV increased shares significantly without a corresponding increase in ozt to back them.
London vault stock (407.3M ozt) has bounced back well above the ~399M ozt threshold of the last two weeks.
PSLV
units600K ozt (18.7t)ozt/units ratio 0.34111
PSLV plays a bit more catch up with vault stock inflow to match recent units creation. They would need to add ~1.4M ozt more to bring the ozt/units ratio back to .3434, but the ratio is now higher than it has been since March 30.
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Previous report: https://www.pmbug.com/threads/silver-report-260515.8932
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