Last week was one many will never forget for silver. We now have full visibility of the extent of the record inflows into ETF’s, COMEX and mutual funds and not only was it the highest on record, an eye watering 68.3 million oz, it was the highest by a margin of nearly 50%. In addition, there are no end of stories about shortages for physical silver, particularly in the US. (we still have plenty of stock of most core items… for now.) We compare to gold and revisit the tantalising GSR setup.
