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Updated 18:56 19/10/19

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Why are the Chinese stacking silver?


Duncan Richardson, News Editor
20 Apr 2016, 9:58 a.m.

After this week’s surge in the silver price it looks like something big is happening in the silver market. At one point yesterday the silver price broke out and surged 5%. Silver is one of the best performing commodities in 2016. Year to date the silver price is up 22%, outshining gold which has increased by 18%.

Since the gold:silver ratio hit a five year high of 83.68 in early March the ratio has plummeted to 74.9 as the silver price gained the ascendancy.

In the last six months silver stocks held at the U.S. based Comex have fallen from 184 million ounces to 154 million ounces. While silver held at the Shanghai Futures Exchange has rose from 496 metric tonnes in December to 1706 metric tonnes yesterday. Do the Chinese know something we don’t?

China has already built up a significant gold reserve and maybe the build-up in silver inventory at the Shanghai exchange is the first sign the Chinese are about to build one of the biggest silver hoards in history.

View original source at: srsroccoreport.com

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