The silver short squeeze in physical silver at present is unprecedented. Even so, the spot price of paper silver is not even close to the real physical equilibrium price of silver. BullionStar may soon have no option but to abandon setting prices based on silver spot price altogether and move to fixed prices.

Last week, the London Bullion Market Association (LBMA) published its latest monthly update on gold holdings in the LBMA vaults in London, claiming that there are now record gold stocks of 9452 tonnes of gold held in these vaults.

Trumpeting record physical gold holdings in the London vaults is one thing, but it’s a very hollow proclamation if only a fraction of these total holdings are available to ‘back-up’ the gigantic fractionally-backed London paper gold edifice.

CME drops silver margins 6.7%

CME drops silver margins by 11.8%

Are the COMEX and LBMA bullion banks that desperate that they are now scraping the proverbial bottom of the London gold vaults, planning to deliver the GC 100 contract into long forgotten 400 oz gold bars in deep storage under the Bank of England?

Is there such an upcoming shortage of physical silver that the COMEX needs to approve every silver refinery on the planet, both current and former, so as to have a large enough universe of silver bars to tap including long forgotten silver bar brands?

CME raises silver margins by 15%

Gold has 32,732 contracts called for delivery on the first day of the new month.

CME raises silver margins by 12.5%

For a group famous for its caution in appearing associated with and endorsing gold, Western central bankers seem to have made an exception when it comes to sitting on the bord of directors of the world’s largest bullion bank gold cartel, the London Bullion Market Association (LBMA). But maybe that’s the point. Because, if central banks and their proxies are close to the action in the gold market, they will be able to control their interests, as well as influence and control others.

A lot has been written about the London gold spot price – COMEX gold futures price spread (EFP) blow up on 23/24 March, whose detonation has sent across the gold market on each side of the Atlantic, and whose trigger has been the subject of much speculation and debate.

Importantly, the fallout from this seismic event continues to roll on, and has caused unusual goings-on among the bullion banks in London and New York