Market Report: The Week Silver Took Off

by Alasdair MacLeod
Gold Money

Gold and silver saw strong price rises this week, with gold up $85 from last Friday’s close at $2060 in morning trade in the European time zone. But the star of the week has been silver, which rose $4.00 to $28.38 over the same time frame.

The problem with silver is a general lack of liquidity, and with the public worldwide flocking into physical ETFs the result is predictable. Of the physical silver held in LBMA vaults half is the property of the SLV trust alone.

On Comex, the bullion banks are collectively trying to run an balanced silver book, as the table below illustrates.

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