SHANGHAI vs COMEX: Opposite Moves In Silver Inventories

Jon Market Commentary, Precious Metals, Silver

Ever since July, there has been some interesting changes in the COMEX and Shanghai Futures Exchange silver inventories. The increase in physical silver investment demand that surged in July, had a direct impact on COMEX silver inventories.
As we can see from the chart below, total COMEX silver inventories peaked in the beginning of July at 184.5 million oz (Moz) and then continued to decline, reaching a low of 159.9 Moz presently. The majority of the declines came from the Registered category (the category that represents inventory that is available for delivery into the market).

This post was published at SRSrocco Report on November 20, 2015.