World Silver Survey 2019

Silver margins lowered

The silver market is expected to experience a physical surplus of 35.3 Moz which is substantially higher than the previous year. Net holdings of ETPs have contracted 0.5 Moz to-date, following seven annual increases in the last decade. On the other hand, exchange inventories have increased for the third consecutive year in 2018, particularly on COMEX which represents approximately 76% of total, rising by 52.5 Moz. As such, the net balance is expected to post a shortfall of 16.7 Moz.

The ongoing revolution in green technologies, driven by strong growth of new energy vehicles (NEVs) and continued investment in solar photovoltaic energy, should further boost global industrial demand for silver over the next decade and beyond. These sectors, along with silver demand in nuclear power, are explored in a new report, The Role of Silver in the Green Revolution, released by the Silver Institute.

We regret to advise that we shall be significantly reducing our coverage of the SILVER markets this Friday - June 8th 2018.

CME drops Silver Bond by 10%

Is 2018 the year of the silver rally? Keith Neumeyer, CEO of First Majestic Silver Corp., thinks so and expects the metal to climb eightfold over the next 3-5 years.

Therefore, yet again, with the LBMA acting as gatekeeper on who is allowed to be a direct participant in the LBMA Silver Price auction, ICE has its hands tied on meeting IOSCO’s requirement that the should be a reliable representation of interest, and there is zero chance that this silver auction will ever see the many 100s of silver trading entities taking part and zero chance that the auction will ever reflect the silver price discovery that these 100s of silver trading entities would bring to the table.

ICE Benchmark Administration expects to begin administering the benchmark and operating the auction underlying the London Bullion Market Association Silver Price from September 25, subject to regulatory approval, parent company Intercontinental Exchange said Tuesday.

The company announced in July that it had been selected as the new administrator for the LBMA Silver Price, replacing a joint effort by CME Group and Thomson Reuters which stepped down in March, less than three years after taking over.

Silver, known for being a market of extremes, is living up to its reputation this year.

Prices rallied 17 percent in the first four months of the year, only to reverse and wipe out those gains. Despite the selloff, investors are pouring money into exchange-traded funds, and assets have reached a record 21,211 metric tons, valuing the holdings at $11 billion.