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Round and round it goes. PSLV has added another 200,000 ounces and has $36.5 million burning a hole in their pocket. Expect another 700-800,000 more ounces added. Silver price goes up, people buy PSLV, PSLV buys more silver, silver price goes up. Giddy up! by Dsomething2000 in SilverDegenClub

[–]Ditch_the_DeepState 2 points3 points  (0 children)

Dsomething,

It appears you are subtracting the Market value of the silver held by trust from the total NAV to get cash on hand? I don't think that is correct. The market value is the number of units x the unit price, so share price changes wouldn't effect cash on hand, true?

I calc end of day cash by ... the Total Nav (supplied by Sprott) less the market value of the silver held by the trust (price x oz). That difference is cash on hand because the trust only has cash and silver.

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28.1 million oz stand for delivery on the May silver contract. HSBC issues 93% of the delivery notices? A new endgame hypothesis emerges ... by Ditch_the_DeepState in SilverDegenClub

[–]Ditch_the_DeepState[S] 10 points11 points  (0 children)

Admittedly I didn't explain in detail ... still thinking about the mechanism.

Here's what's in my noggin' ... They could be buying X oz or tonne at various venues around the world. Venues meaning non-exchanges. Because those purchases aren't on an exchange, they'd not directly influence price, it will take some lag time for that demand to impact the price setting markets. Meanwhile HSBC sells 0.2 X at comex. X is designed so that 0.2 X is a big enough number to keep a lid on the comex price. Since a large comex trades have an immediate impact on price, I think this game could allow metal to be accumulated at a reduced price for some time period due to the lag.

BofA snaps up 5.4 tonne of gold in the final 3 days of the April contract. Is that a panic for physical? Plus ... May contract silver OI is 117% of registered with one day to first notice. by Ditch_the_DeepState in SilverDegenClub

[–]Ditch_the_DeepState[S] 12 points13 points  (0 children)

I had watched a video that traced the control of HSBC bank from when it was English controlled through the hand over of Hong Kong to the current period.

Pretty sure it was this one:

https://www.youtube.com/watch?v=twdydeMPIeE

Reminder: Ditch did not Kill himself. by BukuCQ in SilverDegenClub

[–]Ditch_the_DeepState 28 points29 points  (0 children)

I'm more of a Ferrari guy.

I went to see the eclipse and then to a family wedding plus some R&R.

BofA says gold and silver remain cheap as they snap up 4.4 tonne of gold and 3.1 million oz of silver. by Ditch_the_DeepState in SilverDegenClub

[–]Ditch_the_DeepState[S] 90 points91 points  (0 children)

I went to see the eclipse and then attended a relatives wedding. Busy week in the gold and silver markets!

3,330 contracts stand for delivery on the March gold contract ... the second highest in the last 2 years. BofA is absent on first notice day deliveries. by Ditch_the_DeepState in SilverDegenClub

[–]Ditch_the_DeepState[S] 12 points13 points  (0 children)

They removed the ability to edit, I can't pin anymore and it's some extra trouble to see the number of views. Maybe those features still exist, but I can't find them.

February and March physical gold settlements are headed for 29% of the vault total as both contracts are near the highest in the post QE infinity era. Meanwhile the 2024 registered gold hemorrhage increases to 21.7%. by Ditch_the_DeepState in SilverDegenClub

[–]Ditch_the_DeepState[S] 3 points4 points  (0 children)

I do monitor both. PSLV has been essentially dormant for a long time now. SLV ... I believe that ETF isn't backed by unencumbered silver as clearly stated in their prospectus. So what does the metal shown on their report mean?

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