{"id":27880,"date":"2021-05-10T15:39:48","date_gmt":"2021-05-10T21:39:48","guid":{"rendered":"https:\/\/srsroccoreport.com\/?p=27880"},"modified":"2021-09-17T11:19:10","modified_gmt":"2021-09-17T21:19:10","slug":"lbma-makes-little-100-million-ounce-silver-inventory-error-war-of-silver-etfs-continues","status":"publish","type":"post","link":"https:\/\/srsroccoreport.com\/public\/lbma-makes-little-100-million-ounce-silver-inventory-error-war-of-silver-etfs-continues\/","title":{"rendered":"LBMA Makes Little 100 Million Ounce Silver Inventory Error & War Of Silver ETFs Continues"},"content":{"rendered":"

The LBMA announced today that they made a small error in overstating its silver inventories last month.\u00a0 According to the press release<\/a>, the LBMA recorded an additional 3,300 metric tons of silver in March.\u00a0 That turns out to be a bit more than 106 million oz.\u00a0 That’s half of the total global physical silver investment last year.<\/p>\n

I knew something didn’t look right when I saw the GoldchartsRUs.com LBMA chart for March below.<\/p>\n

\"\"<\/p>\n

The actual total LBMA silver inventories were 35,559 metric tons, not the 38,859 shown above<\/strong><\/span>.\u00a0 So, the GREEN SPIKE higher was incorrect.\u00a0 The total was closer to ARROW.\u00a0 Now, if you look at the GREY AREA, that is the LBMA’s allocated Silver ETF inventories.\u00a0 The Grey area spike higher was when JP Morgan added 110 million oz (Moz) of silver for the iShares SLV ETF in three days, but has since liquidated all of that silver.<\/p>\n

Now, here is another interesting TID-BIT.\u00a0 Since the SilverSqueeze that forced JP Morgan to add 110 million oz of silver to its vaults in London, the iShares SLV total inventories are now lower than they were on Jan 28th.<\/p>\n

\"\"<\/p>\n

On Jan 28th, the iShares SLV inventories were 567 Moz; today, there are 566 Moz.\u00a0 However, we have seen increases in other Silver ETF inventories, especially the Sprott PLSV ETF.<\/p>\n

\"\"<\/p>\n

In the past four weeks, the iShares SLV ETF inventories have declined by 8.1 Moz versus a 13.1 Moz build by the next top four Silver ETFs.\u00a0 Thus, it seems as if JP Morgan is ROBBING PETER to PAY PAUL<\/strong><\/span>.\u00a0 Also, we continue to see a liquidation from the COMEX Registered inventories of about 4 Moz over the past month.<\/p>\n

Interestingly, the Sprott PSLV added a stunning 50 Moz of silver to its inventories since the beginning of the year.\u00a0 Here is a breakdown of the data.<\/p>\n

Top Silver ETF Inventories Since December 2020:<\/strong><\/span><\/p>\n

Sprott PLSV = +50.7 Moz<\/p>\n

iShares SLV = +7 Moz<\/p>\n

Deutsche Silver ETF = +5.3 Moz<\/p>\n

ZKB Silver ETF = +4 Moz<\/p>\n

Total Net Change = +67 Moz<\/p>\n

I don’t know what seems to be motivating the managers behind the Sprott PLSV ETF to acquire so much more silver than the other Silver ETFs, but there just isn’t a comparison.\u00a0 The Sprott PLSV inventory increase accounted for 75% of the total of these four Silver ETFs.\u00a0 What happens when retail stock investors begin to really move into the Global Silver ETFs??\u00a0 Where will the silver come from?<\/p>\n

I believe we are going to see massive FIREWORKS as retail stock investors stampede into the global silver ETFs.\u00a0 I will be providing a new Youtube Video on this in the coming week.<\/strong><\/span><\/p>\n

Any information (data, charts & graphs) that are published for free public use, can be republished elsewhere.<\/p>\n