Chris Cassidy (@christophercassidy)

Silver doings last week: BlackRock's $SLV ETF, for the sixth consecutive month, has done a mid-month transfer?/withdrawal? of 3 million oz of silver from out of its NYC storage vault (the Comex JPM Morgan vault - eligible section) bringing that total down from the original 103 million oz to now only 85 million. Interestingly enough, that JPM Morgan Comex vault eligible section had withdrawals of 1.28 million, 650,000 & 640,000 oz for Tuesday, Wednesday & Thursday last week. Surely just a coincidence though. 😉 The Shanghai Gold & Futures Exchanges have rapidly recovered silver vault totals from their low point on April 1 at ~614 tonnes (~19.7 million oz) to ~961 tonnes (~30.9 million oz); a gain of about 11.2 million oz. Also interestingly enough, the Comex eligible pile has dropped 9.2 million oz during that same April 1 to April 17 time period. I wonder where all that Comex silver went?🤔