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Junk Silver Premiums Skyrocket

|Includes:iShares Silver Trust ETF (SLV)

I am starting to monitor the premiums every day, you can find the charts here:

With the 10% smack down of silver today, owners of silver are in a deep hole now. But there is some light at the end of the tunnel. The premiums on junk silver skyrocketed to 25% (Chart 1). That means that the physical market is ignoring the futures market. So, buy more!

Some of the junk silver bags are even sold out on APMEX.

Chart 1: Junk Silver Premium

The premium on the First Majestic Silver shop on silver jumped to 25% too.

Chart 2: First Majestic Silver premium on silver

APMEX premiums skyrocket to 20% (Chart 3).

Chart 3: APMEX Silver Premium

Meanwhile, Shanghai silver premiums are going to a high of 5% (since I monitored it) and 1% for gold.

I don't think these premiums are sustainable at all.

Disclosure: I am long AGQ.

Stocks: SLV