Was going to post it myself. August was another terrible month for the LBMA and they are down to ~916M ounces. Once they hit ~800M ounces things will get very interesting as that is effectively a "default", no more available silver. Which should be another 2-3 months if the current decline continues. This is due to the ETFs (like SLV) owning most of it (and need to hold it) and there would be many people with silver there who aren't interested in selling either.
It is also interesting to note that even though silver is mined at 8:1 ratio to gold currently, there is only a 3:1 ratio of silver to gold at the LBMA. So not only can they not hold onto their existing silver, the industrial usage of silver is effectively destroying a lot of it before it can even get to investors. I expect that ratio to keep decreasing as the supply problems with silver continue and industrial usage of silver increases. Now if only the silver price could match the data.
MKR Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)