After many days of withdrawals, there was finally a deposit into GLD, as an authorized participant added precisely 75,000 troy ounces. But there was another huge withdrawal/conversion of shares for physical over at SLV...to the tune of 10,079,433 troy ounces. Under the current conditions in silver, I suspect the latter scenario.
In other gold and silver ETFS and mutual funds on Planet Earth on Thursday, net of any changes in COMEX, GLD & SLV inventories, there was a net 141,962 troy ounces of gold added -- and an knee-wobbling 7,489,950 troy ounces of silver was added as well, with virtually every ounce of that going into SIVR.
There was a sales report from the U.S. Mint yesterday. They sold 26,000 troy ounces of gold eagles -- 2,500 one-ounce 24K gold buffaloes -- and zero silver eagles.
They've certainly been slow pushing out silver eagles over the last few weeks -- and one has to wonder whether that is due to 'production problems', or they can't get good delivery bars because they simply aren't available, or because the powers-that-be don't want to exacerbate an already very tight physical market.
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Ed Steer’s Daily Analysis of the Gold and Silver Markets
After eight years of writing about the precious metals for Casey Research, the folks at Stansberry & Associates—who just recently purchased controlling interest in the company—decided that my ‘niche market’ column didn’t fit into their plans.
Since the time that Casey Research was kind enough to offer me a stand-alone column, it became their most highly-rated blog almost from the outset—and has remained that way up to this date...