Physical gold and silver shortage

[68Camaro]

Ah, interesting. But just because they can issue new shares (buy more silver) doesn't mean they will. They've on only done that (as far as I recall) once or twice. I remember one expansion where they had trouble finding enough physical silver to complete the offering. IIRC they ended up staging and delaying completion until they completed the buys, because they can't offer the new shares without the metal in hand. Thanks for the heads up, I'll have to watch it more closely - I normally only check PSLV NAV every 2 to 4 weeks.

[Cu Penny Hoarder]

IMO there's no use beating our heads against the wall trying to figure all this stuff out. Just buy it and put it away in a safe place, then cash out at some point after it does a moon shot. Hopefully we'll still be alive when that happens. If not, simply leave it to your next of kin.

[68Camaro]

I'm not trying to understand the overall market here (though in another thread Idaho posted a link to an excellent ZeroHedge article, worth reading). I'm just interested to see if a group of people are making a play on PSLV (regardless of their motives) and/or if there is a general short squeeze possible. And even though it is still 4 days before the 31st, as I look at PSLV, the value of the trust is starting to approach the NAV, which (to the best of my awareness) it hasn't done in 12 or more years. The price acceleration of PSLV is higher than SLV (which is also moving up), and both are moving up faster than spot.

As I type this PSLV is at 11.62 - yesterday it was 11.44, and NAV is 11.68, so it is already within 6 cents of even with NAV. I haven't seen this in years (though to be honest I haven't paid attention to every possible short squeeze event that might have occurred); the key will be if it ends up with a positive premium, and holds there for any length of time. I just did a screen shot, and it is still wiggling, but has hit a peak of 11.64 and dropped back to 11.61 - we'll see what happens over the next few days.

pslv 2025-03-27.png (48.32 KiB) Viewed 4502 times

[68Camaro]

Price up to 11.68 - it has hit the NAV!

Edit: I just realized there was an intraday high on the 18th that hit 11.71, so this has been going on for a few days, up and down.

[pmbug]

FWIW, this guy on X is watching PSLV and posting comments on noteworthy action:

https://x.com/SemperVigilant1

[68Camaro]

FWIW, this guy on X is watching PSLV and posting comments on noteworthy action:

https://x.com/SemperVigilant1

I don't have X, so maybe I don't get to see the same thing you do. It's not showing me anything new since 3/21

[68Camaro]

Kitco sell price was running behind, but has "caught up", and is currently climbing hard.

[pmbug]

FWIW, this guy on X is watching PSLV and posting comments on noteworthy action:

https://x.com/SemperVigilant1

I don't have X, so maybe I don't get to see the same thing you do. It's not showing me anything new since 3/21

Yeah, X sucks in that way. You have to be logged in to an account to see timelines properly. Here's a couple of direct links to his work:

PSLV price suppression theory explained:
https://x.com/SemperVigilant1/status/19 ... 4641421371

Intraday PSLV chart:
https://x.com/SemperVigilant1/status/19 ... 0852191505

Repost of another post analyzing PSLV trading data:
https://x.com/GoldGrumpGranpa/status/19 ... 9792813265

[68Camaro]

And there is the daily PSLV futures takedown attempt. We'll see if they can keep this up.

[pmbug]

I wrote an article this morning about the silver market and the nascent #silversqueeze 2.0 effort:

https://www.pmbug.com/threads/silver-sq ... esis.8137/

[shinnosuke]

I wrote an article this morning about the silver market and the nascent #silversqueeze 2.0 effort:

https://www.pmbug.com/threads/silver-sq ... esis.8137/

Good read. The last paragraph makes for an exciting conclusion. Realcenters have lived for this day. Will the elites allow this time to be different? Will a disturbance in the silver force finally expose their machinations?

[pmbug]

Tweet includes video from CNBC TV18 (India) talking about #silversqueeze:

https://x.com/Sorenthek/status/1906311002422903061

[pmbug]

First Mint made a special silver cube to commemorate today's #silversqueeze effort:





Only 2,025 mintage. They are being sold at spot. Ordering page is password protected - the offering was exclusive to the X #silversqueeze community. I have permission to share details privately with pmbug.com members.

https://www.pmbug.com/threads/march-31- ... ost-128745

[pmbug]

Looks like the cubes might be sold out now. That was quick.

[68Camaro]

Nice cubes!

It does look like there is a battle going on in the silver market. At open there was an immediate smack down of PSLV, it climbed back up, was smacked down again, and it's climbing back up again as I write this. The question is whether the pockets of the collective little guys are deeper than the pockets of the few big players. Will be an interesting day.

[68Camaro]

So what are the silver squeeze folks saying now?

[pmbug]

So what are the silver squeeze folks saying now?

https://www.pmbug.com/threads/silver-sq ... ost-128928

[68Camaro]

So the dealers sold a lot more of their stock to new people, but it didn't move the market...

[pmbug]

Retail buying was never going to move the market. No one expected a single day of retail buying to move the market. Rest assured though that the wheels are turning.

[pmbug]

I wrote an article about the 2,000 ton silver mystery:

https://www.pmbug.com/threads/silver-pr ... tery.8183/

[Cu Penny Hoarder]

Why are no billionaires willing to step up and corner the physical market? Elon Musk alone could own it all if he wanted to. As long as you don't dabble in paper contracts and leverage, there is no way you could get Hunt Bunker'ed.

[pmbug]

Why are no billionaires willing to step up and corner the physical market?

This guy bought ~$400M worth of silver and took physical delivery:

https://x.com/davidbateman/status/1905379124161769877

[Cu Penny Hoarder]

Why are no billionaires willing to step up and corner the physical market?

This guy bought ~$400M worth of silver and took physical delivery:

https://x.com/davidbateman/status/1905379124161769877

That's a good start.

If I ever hit the Powerball (which will never happen) I'd hoard all the 90% I could get, including circulated, non-slabbed silver dollars.

[pmbug]

I wrote an article about the 2,000 ton silver mystery:
...

April update:

If these reports are to be believed, over the last three months, the amount of silver stored in global exchange vaults (LBMA + COMEX + SFE/SGE) has increased 90.667 mtoz ( 2,820 metric tons) all while silver is in a structural deficit with global demand exceeding global production. It does not make sense and I suspect that someone (looking at you LBMA) is lying.

https://www.pmbug.com/threads/silver-de ... ost-132125