Thanks Ron,

I found this explanation on the web:

Quote:

Finally, there is the lease rate pattern itself: Back in 1998, Buffett was doing two things to the silver market. He was buying futures in silver and taking delivery. This pushed silver prices to $7.50, but pushed lease rates from 1% to 70% in the one month term.

Why did Buffett's buying add 50% to the spot price but add 7000% to lease rates? The answer is that silver owners on COMEX couldn't lease their silver out and deliver it to Buffett at the same time. Buffett created a huge shortage in the lease silver market by calling for delivery.

End quote

So perhaps it means that COMEX silver storage shrinks?

Less supply, higher demand .... typically means higher prices.

I would like anyone who knows t

Euroman