I may be totally off course with my calculations below - I may be reading it wrong, but if this is correct - have we been led up the garden path. Is there really a shortage of silver ????????
Who is the LBMA? I found this :- I am not in a position to say correct or not correct .
"
The London bullion market is a wholesale over-the-counter market for the trading of gold and silver. Trading is conducted amongst members of the London Bullion Market Association, loosely overseen by the Bank of England. Most of the members are major international banks or bullion dealers and refiners.Wikipedia"Before I make further comments would like some clarification.
Love some more research guys. Pull this apart please :-
1- look at - which indicates 35191 tonnes of silver HELD ????????????
https://www.lbma.org.uk/prices-and-data/london-vault-holdings-data
2- do some calculations from:-
https://www.inchcalculator.com/convert/metric-ton-to-ounce/
35191 tonnes equates to = 1,241,325,994.9825 ozs .
I have not seen this quoted before ...... ?????
(20min delay)