As prices of silver continue to plunge, physical demand for silver has been swelling.
And this has been causing a swift draining of inventories at the COMEX.
As Zero Hedge’s Tyler Durden points out
At this rate, tomorrow, for the first time, we will see a 32 handle in Comex registered silver ounces, where apparently despite the massive drubbing in paper silver, demand for physical inexplicably persists. Speculators to be blamed for this in 5...4...3...
The war against precious metals has been accentuating the price distortions. Yes they could be blamed on speculators. But the series of credit margin hikes is obviously is a form of price control being waged for political ends.
Either we will see a slump in the demand for physical silver and subsequently growing stockpiles or price manipulations will implode.
What is unsustainable won’t last.
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