from TF Metals Report:
That it is, indeed. The April BLSBS was just like the Jelly of The Month Club. It’s the gift that keeps giving the whole year or, in this case, the whole month.
Regarding the ending of The Charade, that day IS coming. Again, though, when? Once again, this is impossible to say but we will continue to read the tea leaves which lay between the lines in the hope of finding some clues.
- London continues to deliver at a rapid pace
- Shanghai appears to be out of metal altogether
- The GLD has shed 300 tonnes YTD
- Comex vaults have lost over 100 tonnes YTD
- China imported 220 mts in March alone
- Demand from India is soaring
I could go on and on but I won’t. Just keep in mind that this demand for physical metal is on a 1:1 basis while paper creation is on the level of 100:1.
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