Rick Rule was on the Sprott Weekly Wrap yesterday, talking about physical silver scarcity
For those that don't know, Rick Rule is the CEO and the major shareholder of Sprott, which is one of the largest traders of silver and precious metals in the world. He's one of the most respected voices in the precious metals sector.
Rick says he doesn't see any silver scarcity for institutional buyers. In his opinion, scarcity only exists at the retail level, which is mostly due to the closure of smelting operations (i.e. to recast larger silver ingots into small silver ingots for sale to retail buyer). Smelting bottlenecks arose from the mandatory closures that occurred because of COVID-19 (and not because of demand of fundamental silver supply issues)
