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Posted on 06/08/2025 8:59:55 AM PDT by delta7
In comex silver trading this week 684 new contracts (3.4 million oz) were written and 704 delivery notices were issued. News flash: NONE of those delivery notices were from the HSBC “customer” account that I have been calling out for more than a year.
This HSBC account issued 94 delivery notices (470,000 oz) on first notice day for the May contract (May 29). Since then they have not sold any silver. This is far below the average 5.5 million oz per month they have issued over the prior 18 contracts.
This HSBC account has sold over 100 million oz of physical at comex since December 2023. That metal has accounted for nearly a quarter (23%) of all physical silver sold at comex during that span. In some months HSBC’s metal accounted for more than half of all physical silver transactions.
Since a good portion of the total delivered silver is just bankers flipping metal back and forth to each other, the real impact of this HSBC account is much more than a quarter of the market. If bankers flipping metal account for half of comex deliveries, then this HSBC metal would account for about half of the non-flip transactions.
Based on my tracking, all of the metal sold by HSBC was brought to comex from outside the comex system. And all of that metal was brought in via 2 vaults … Asahi’s vault (79 million oz) and MTB’s vault (22.6 million oz). Furthermore the Asahi vault appears to have been set up solely for this HSBC account taking its first deposit in mid 2023. That is an indication of the depth of planning by this HSBC account.
After observing this surge in trading by an account called Hong Kong Shanghai Bank Corp, in May 2024 I advanced an idea I called “The Differential Lag Theory”. Basically, I suggested that an account was accumulating silver at non-price setting venues and dumping silver at the price setting venue (comex) in an effort to accumulate silver at a depressed price.
Is HSBC depressing comex price while accumulating gold and silver at non-price setting venues? It could work ... The Differential Lag theory explained. Is HSBC depressing comex price while accumulating gold and silver at non-price setting venues? It could work ... The Differential Lag theory explained. MICHAEL LYNCH ON GOLD & SILVER · Is the silver dump over? I’ll hold final judgement until first notice on the upcoming July contract, an active month. That will confirm or deny my suspicion.
Many times I have wondered out loud what the silver market would do without this huge dump of physical. This last week of trading may be a preview of things to come.
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Facts and figures:
Gold price.org
IBTG
IBTG
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In Before Tx Gator….Fetch. Lately TxGator has been getting slower to Fetch….I am eager to see what he can “ contribute” or add to this subject.
Works for me! :)
Yeah, 10.82% in the last month and 9.03% of that was last week. And it was really strange to see silver going up as gold was going down. I’m looking forward to seeing what happens next week.
Still no reply, some astute FR members have reminded me this TXGator has been suspended from posting, numerous times…..I do have some basic advice: when you find yourself in a hole, stop digging.
If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
I wonder if the Gaytor got warned off the stalking by the mods?
Here is one site with the “ numbers”.
https://goldseek.com/article/gold-lies-low-whilst-silver-steals-show
“We simply must start with the spotlight on Silver: Sweet Sister Silver! As if shot out of a cannon this past Monday, Silver swiftly soared, by Wednesday reaching 36.27 — a level not having traded in better than 13 years (since 29 February 2012) — then onward to as high yesterday (Friday) as 36.51 before settling the week at 36.13 Just like that!
Oh how many times through hundreds of missives have we stressed “Do NOT forget the Silver!” For when Silver goes, she GOES!
A stellar week indeed for Sister Silver. Through now 1,275 trading weeks of the 21st century, this past weekly net gain of +9.4% was Silver’s 21st best, (the largest weekly net gain being +17.4% for that ending 27 March 2020 as COVID closed the globe). And year-to-date, Silver is now +23.4%, within our Metals Triumvirate having passed Copper +20.1%, atop which Gold still leads +26.2%.
But wait, there’s more: for relative to Gold, Silver still remains cheap as we turn to the daily Gold/Silver ratio for these past 25 calendar years…..”
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Many of us whom have been in the Silver game ( decades here) knows what happens next….Patience, and more Patience. Now is the time to plan a strategy, sell based on the GSR? Accumulate? Swap out Au for Ag? ….. a dealer in Florida I talked to stated just before the move to $36, ( $32 and change) a client walked in and swapped $80,000 in Gold for Silver…..just dumb luck?
No, those in the game for awhile have that special “ sense”….analysis of the corrupted Comex COT data can always see what is coming….unfortunately, this Comex farce is coming to an end….” Undisclosed” parties have been draining the US markets dry.
Here is where Socrates got mè!
Good to see a few, very few are watching. Generational bulls come about very rarely.
“when you find yourself in a hole, stop digging.”
If you had followed that advice, you wouldn’t have lost over $700,000,000 of your clients’ funds and spent eleven years in jail after your ponzi scheme collapsed!
I’ve enjoyed the ride of Gold, Silver, Bitcoin, and the stock market. Been a great year to date.
The thread with the golden touch, it knows so much...
Silver isn’t Gold.
It’s not rare.
Not hard to come by.
And there is oodles and oodles of it all over the place.
Don’t bet the farm.
Just sayin’
Been a great year to date.
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Just the beginning my friend. This Bull will most likely outlast me.
I don’t want to say we’ve got silver but.......
Don’t bet the farm.
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I did, the past two bull runs, ….timing was everything. That said, Silver is not for everyone, especially youngsters to eager to make a quick buck….us older ones know when to hold em, know when to fold em.
We’ve been loading up on silver stocks for some time now. The price per share on some of them has been ridiculously low but have been seeing a lot of movement and gaining more interest over the past week. AEM (Agnico Mining), a gold stock that has been repeatedly setting new highs, has pulled back a bit recently and AG and SVM are starting to move higher.
The Hunt brothers still alive?
They made a run on silver that paid off.
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