Craig Hemke of the TFMetalsReport wrote an interesting article this week titled, “EPIC Silver Shortage Imminent? 3.5 M Oz of Silver “Jump the Queue” to Take JULY Delivery!”
We won’t get into the fine details of what he reported here as it gets very technical… but if you are interested you can see his article.
But, to summarize, an unknown party is unexpectedly taking delivery of an unprecedented amount of physical silver this month at the Comex.
According to Hemke, “… the Comex is on pace to deliver an additional 700+ over the course of the month? At 5,000 ounces/contract, that means someone or something has ponied up about $50,000,000 in order to “jump the queue” and take immediate delivery of 3,500,000 ounces of silver this month.”
This large, last minute buy of physical silver at the Comex is interesting for two reasons.
First, it comes with gold and silver prices under heavy pressure and dropping. You would think if the market for silver was this bad people would be looking to divest of physical silver but quite the opposite is happening here.
And, the second point of interest, is that after July the next “delivery month” for silver isn’t until September. Of course, we have our eyes open for all events occurring in September as we feel a major market crisis/event will occur in that month (see our viral video SHEMITAH EXPOSED – Financial Crisis Planned For September 2015 here).
There is still more than a week to take delivery on silver for the July contract and so we will watch to see if even more people take delivery by the end of this month.
Does this entity know that the paper market is going to collapse and getting physical silver will be much harder come September?
If so, they are smart.