King World News interviewed Dave Madge director of sales at the Royal Canadian Mint. When asked if the RCM is having trouble acquiring silver Madge responded, “Demand right now for silver is through the roof and it shows no signs of slowing at this point. Sourcing silver is becoming very difficult. We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher… We are anticipating it to become even more difficult to secure supplies in the future. This is based on what we are seeing firsthand and what our suppliers are telling us.”
Scotia Mocatta was briefly out of 1, 10, 100 oz bars, a week ago. They have have been out of 1 kg bars for the past 6 days. The 100 oz bars are out of stock again.
Still a sizable $1.16/ oz difference between the front month and December 2015.
The LBMA is about the same as yesterday.
+ Harvey Organ has today’s delivery and warehouse details.
+ Silver backwardation update for Feb 23 2011 and long term chart
+ SLW – long short term and long term calls -4%, +60%, +65%, -15%