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Increasing Physical Silver Demand Pushes London And New York Silver Markets To Sidelines
The central driver of the current global silver market run is physical demand that suddenly appeared in late 2024 / early 2025. NY COMEX vaults saw an added 230 million (M) oz. added, mostly from London, and that was it for London. By October, London saw physical trading disruption due to a complete lack of market liquidity. For London spot/cash contract owners who were even a little awake, the signal in 2025 was that they had been had and to ‘GET OUT’. In caps. With owners of billions of oz. of London claims now starting to fan-out globally looking for actual silver, the implications are profound. UBS’s ... (full story)