Silver Demand Drivers (and vault totals)

[pmbug]

Update (see post #68 for last month):

• LBMA - As at end August 2024, ... There were also 26,245 tonnes of silver (a 1.4% decrease on previous month)... SLV report for 6 September claims 363.01 mtoz vaulted in London. That leaves a total of ~480.78 mtoz of silver in the London vaults not owned by ETFs. This compares to 493.22 mtoz reported at the end of July.
• COMEX - As of September 5, 306.01 mtoz registered + eligible - 103.17 mtoz owned by SLV = 202.84 mtoz not owned by ETFs. This compares to ~205.7 mtoz reported at the end of July.
• SFE/SGE - As of September 6 (SFE) and August 30 (SGE), 2,512,500 kg or 80.78 mtoz. This compares to 84.75 mtoz reported at the end of July.

The west has roughly 683.62 mtoz vaulted at LBMA + COMEX not owned by SLV. Total global including China is ~764.4 mtoz (19.27 mtoz less than at end of last month).

The LBMA total vaulted supply is down ~373 tonnes (~12 mtoz) from end of July. SLV gained 0.45 mtoz.

The COMEX is up 2.3 mtoz from end of July. SLV is about the same for the New York vault.

Sources:
LBMA: https://www.lbma.org.uk/prices-and-data/london-vault-data
SLV: https://emea-markets.jpmorgan.com/metalicsWebAppJanus/publicUnauthenticated/BONY_SLV.pdf
COMEX:

SEPT 5/GOLD CLOSED UP $18.00 TO $2512.90//SILVER WAS UP 55 CENTS TO $28.73//PLATINUM WAS UP $17.95 TO $928.10/PALLAIDUM WAS UP $1.25 TO $943.50//RUSSIA ANNOUNCES ITS ITS GOING TO BUY MORE MUCH PHYSICAL GOLD//ANOTHER GERMAN STABBING//VOLKSWAGEN MAY HA

WILLL FINALIZE LATER TODAY GOLD PRICE CLOSED UP $18.00 TO $2512.90 SILVER PRICE UP $.55 TO $28.73 Gold ACCESS CLOSED $2514.55 Silver ACCESS CLOSED: $28.77 Friday is OTC/London LBMA options exp…

harveyorganblog.com

(Michael #silversqueeze doesn't appear to have posted any updates on X/Twitter since August 5)
SGE/SFE:

 

[pmbug]

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