Huge addition of 1.898 million oz of silver into the SLV
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Message: Huge addition of 1.898 million oz of silver into the SLV
March 22, 2016 · by harveyorgan
Huge addition of 1.898 million oz of silver into the SLV
In silver, the open interest rose by 487 contracts up to 177,016 despite the fact that the silver price was up by 3 cents with respect to yesterday’s trading . In ounces, the OI is still represented by .885 billion oz or 127% of annual global silver production (ex Russia ex China).
In silver we had 65 notices served upon for 325,000 oz.
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ii) report on China
We have been pointing this out to you on several occasions. The Chinese are using forwards to hide their exposure to depleting USA reserves. Basically by using derivatives they delay the exit of USA dollars by the length of derivative contracts. It is believed that China has in excess of 300 billion of USA exit exposure.
(courtesy zero hedge)
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