Silver - Oh No

We are in the midst of a global shortage of available physical silver with increasing demand worldwide for this monetary, investment safe haven, and strategic industrial metal.

India restricted imports of silver on September 24, 2025, the UK’s Royal Mint and Australia’s Perth Mint have no silver bullion bars in stock.

The price of silver is in backwardation with the cash/spot price above futures prices out to 6 months from current.

On October 10, 2025, the London Silver Market with billions of oz. of claims for silver ownership and immediate delivery in its cash/spot market seized-up due to lack of available silver bars.

No liquidity in the world’s largest physical silver market.

Major silver refiners cannot commit to silver delivery dates:

In the face of a worsening global shortage of silver, increasing demand for silver, and the world’s largest physical silver market in the City of London going sideways, we can look forward to statements from uninformed sources predicting dark days for silver investors.

Let’s watch.

Best regards,

David Jensen