Pinned Tweet
UK Silver Flow 2021 to Jul 2026 - This shows the monthly NET imports/exports between the UK (LBMA) and major silver markets. A single silver bar represents a range from 0.1 to 100 metric tons. So for example, 4 silver bars represents a monthly total that is in the range of s.
It gets a bit hectic after late 2024 and you might need to pause the video in places to fully absorb everything that was happening.
Alas, I didn't have an unlimited budget for making this or I would have also incorporated some temperature gauges for LBMA vaulted ETF/ETP silver and/or LBMA silver vault stock free float totals for the complete picture.
The UK customs data was drawn from @GoldFishCharts website and the music is by Angine de Poitrine.
It gets a bit hectic after late 2024 and you might need to pause the video in places to fully absorb everything that was happening.
Alas, I didn't have an unlimited budget for making this or I would have also incorporated some temperature gauges for LBMA vaulted ETF/ETP silver and/or LBMA silver vault stock free float totals for the complete picture.
The UK customs data was drawn from @GoldFishCharts website and the music is by Angine de Poitrine.
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pmbug retweeted
Thank you @Sorenthek for collaborating with me on your ZeroHedge article. If anyone wants to better understand how #Gold, #Silver, and commodities can work as collateral for liquidity, take a look at this article.
zerohedge.com/news/2026-10-3…
zerohedge.com/news/2026-10-3…
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Oct 30 Silver Market Morning Snapshot
🇨🇳 SFE Futures $56.56 ($5.88🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇨🇳 SGE Spot $56.30 ($5.62🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 MCX Futures $53.04 ($2.53🔼🇬🇧 LBMA Spot)🔥
🇮🇳 IBJA Spot $51.65 ($1.14🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $50.51
🇺🇸 COMEX Nov26 Futures $50.43 ($0.13🔻🇬🇧 LBMA Spot @ 06:42)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
PSLV🚫💤
SLV🚫
COMEX🔻666K👀 (devil's metal indeed)
MCX🔻187K👀
SFE🔼213K👀
COMEX withdrawals are currently 89.1% of Oct26 delivery requests
COMEX 5 DMA [R] run rate = 582d (🔻from 850d) @ 180K ozt/day WITHDRAWAL (🔼from 117K ozt/day WITHDRAWAL)👀
COMEX 5 DMA [E] run rate = 404d (🔻from 638d) @ 346K ozt/day WITHDRAWAL (🔼from 226K ozt/day WITHDRAWAL)👀
MCX 5 DMA run rate = 27d (=from 27d) @ 115K ozt/day (🔻from 121K ozt/day)👀
SFE 5 DMA run rate = ♾(=from♾) @ 23.9K ozt/day DEPOSIT(🔼from 23.8K ozt/day DEPOSIT)👀
SGE 5 WMA run rate = ♾(=from♾) @ 189K/week DEPOSIT (🔼from 43K/week DEPOSIT) (as of Oct 23)
🇨🇳 SFE Futures $56.56 ($5.88🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇨🇳 SGE Spot $56.30 ($5.62🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 MCX Futures $53.04 ($2.53🔼🇬🇧 LBMA Spot)🔥
🇮🇳 IBJA Spot $51.65 ($1.14🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $50.51
🇺🇸 COMEX Nov26 Futures $50.43 ($0.13🔻🇬🇧 LBMA Spot @ 06:42)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
PSLV🚫💤
SLV🚫
COMEX🔻666K👀 (devil's metal indeed)
MCX🔻187K👀
SFE🔼213K👀
COMEX withdrawals are currently 89.1% of Oct26 delivery requests
COMEX 5 DMA [R] run rate = 582d (🔻from 850d) @ 180K ozt/day WITHDRAWAL (🔼from 117K ozt/day WITHDRAWAL)👀
COMEX 5 DMA [E] run rate = 404d (🔻from 638d) @ 346K ozt/day WITHDRAWAL (🔼from 226K ozt/day WITHDRAWAL)👀
MCX 5 DMA run rate = 27d (=from 27d) @ 115K ozt/day (🔻from 121K ozt/day)👀
SFE 5 DMA run rate = ♾(=from♾) @ 23.9K ozt/day DEPOSIT(🔼from 23.8K ozt/day DEPOSIT)👀
SGE 5 WMA run rate = ♾(=from♾) @ 189K/week DEPOSIT (🔼from 43K/week DEPOSIT) (as of Oct 23)
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Oct 30 Gold Market Morning Snapshot
🇮🇳 MCX Futures $4,028.27 (~$48.11🔼🇬🇧 LBMA Spot)🔥🔥🔥
🇨🇳 SFE Futures $3,997.85 ($13.66🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇨🇳 SGE Spot $3,997.04 ($12.85🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 IBJA Spot $3,988.60 (~$8.44🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $3,980.16
🇺🇸 COMEX Nov26 Futures $3,988.70 ($3.43🔻🇬🇧 LBMA Spot @ 05:56)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
GLD🔼55K (Shares 🔻800K)
COMEX🔻389
MCX🔼2.2K
COMEX withdrawals are currently 25.4% of Oct26 delivery requests
COMEX 5 DMA run rate = 850d (🔼from 587d) @ 27.3K ozt/day (🔻from 39.5K ozt/day)
MCX 5 DMA run rate = ♾(=from♾) @ 900 ozt/day DEPOSIT (🔼from 450 ozt/day DEPOSIT)
🇮🇳 MCX Futures $4,028.27 (~$48.11🔼🇬🇧 LBMA Spot)🔥🔥🔥
🇨🇳 SFE Futures $3,997.85 ($13.66🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇨🇳 SGE Spot $3,997.04 ($12.85🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 IBJA Spot $3,988.60 (~$8.44🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $3,980.16
🇺🇸 COMEX Nov26 Futures $3,988.70 ($3.43🔻🇬🇧 LBMA Spot @ 05:56)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
GLD🔼55K (Shares 🔻800K)
COMEX🔻389
MCX🔼2.2K
COMEX withdrawals are currently 25.4% of Oct26 delivery requests
COMEX 5 DMA run rate = 850d (🔼from 587d) @ 27.3K ozt/day (🔻from 39.5K ozt/day)
MCX 5 DMA run rate = ♾(=from♾) @ 900 ozt/day DEPOSIT (🔼from 450 ozt/day DEPOSIT)
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Inside Porphyry and Epithermal Deposits 🌋
Porphyry copper deposits and epithermal gold-silver veins are two parts of the same magmatic system. A single body of water-rich magma forms large, lower-grade base-metal deposits at depth and feeds high-grade precious-metal veins This process has repeated along the world’s subduction zones for hundreds of millions of years. It has formed many of the largest copper mines and gold-silver vein deposits, often in the same district. According to Sillitoe (2010), porphyry systems supply nearly three quarters of the world’s copper.
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Park your wealth in stablecoins. Trust the governance, bro.
BREAKING: Tether has frozen $971 million worth of USDT which has been linked to a suspected Binance hack.
This comes just minutes after Binance wallets saw a $2.8 billion outflow across five blockchains.
Binance has yet to comment on the situation.
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pmbug retweeted
In an exclusive interview, Swiss Gold refiner MKS PAMP CEO James Emmett says, the company is considering opening a vault
in Hong Kong first, with a final decision expected in the near term.
Emmett says, "Not just for storage, to create liquidity. That means to create the ability in Hong Kong. This is very important. And then potentially in supporting the activities of a refinery."
news.tvb.com/tc/1203374-MKS…
in Hong Kong first, with a final decision expected in the near term.
Emmett says, "Not just for storage, to create liquidity. That means to create the ability in Hong Kong. This is very important. And then potentially in supporting the activities of a refinery."
news.tvb.com/tc/1203374-MKS…
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pmbug retweeted
A few weeks ago, the Secretary for the Hong Kong Financial Services and the Treasury visited three Swiss gold refineries, - MKS PAMP, Argor-Heraeus and Valcambi, to encourage them to set up and expand operations in Hong Kong
info.gov.hk/gia/general/20…
info.gov.hk/gia/general/20…
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pmbug retweeted
It is happening. 🔥🔥🔥
The London Metal Exchange (LME), owned by Hong Kong Exchanges and Clearing (HKEX) since 2012, is exploring the tokenization of off-warrant metal inventories stored in its Hong Kong warehouses. The aim is to turn this metal into digital assets that can be marily as collateral for loans.
Key points:
⭕️ Off-warrant metal (inventory without LME warehouse warrants/title documents) currently lacks a standardized financing mechanism. On-warrant metal can already be traded or pledged easily.
⭕️ Tokenization would create trackable digital claims on the physical metal, making it more bankable as collateral and potentially increasing liquidity.
⭕️ The LME says it is at the early stages of exploring this for business financing and will consult stakeholders. An invitation-only industry roundtable is planned for early November 2026.
🔶Policy context:
The move is tied to Hong Kong’s first five-year economic blueprint (published September 2026), which seeks to position the city as a commodities trading and financing hub by attracting investors, traders, and financiers. This aligns with China’s 15th Five-Year Plan (March 2026), which for the first time explicitly backs developing Hong Kong into a commodity trading powerhouse. Hong Kong plans to leverage its status as an approved LME delivery point (approved January 2025).
🎯Expected benefits include drawing more capital and activity into Hong Kong’s commodities ecosystem and giving the LME a new revenue stream. Separately, HKEX is testing tokenized carbon credits for near-instant settlement.
🎯This fits into the broader push for physical metal liquidity and trading infrastructure in Hong Kong (as referenced in the surrounding X discussion about MKS PAMP considering a vault there).
The London Metal Exchange (LME), owned by Hong Kong Exchanges and Clearing (HKEX) since 2012, is exploring the tokenization of off-warrant metal inventories stored in its Hong Kong warehouses. The aim is to turn this metal into digital assets that can be marily as collateral for loans.
Key points:
⭕️ Off-warrant metal (inventory without LME warehouse warrants/title documents) currently lacks a standardized financing mechanism. On-warrant metal can already be traded or pledged easily.
⭕️ Tokenization would create trackable digital claims on the physical metal, making it more bankable as collateral and potentially increasing liquidity.
⭕️ The LME says it is at the early stages of exploring this for business financing and will consult stakeholders. An invitation-only industry roundtable is planned for early November 2026.
🔶Policy context:
The move is tied to Hong Kong’s first five-year economic blueprint (published September 2026), which seeks to position the city as a commodities trading and financing hub by attracting investors, traders, and financiers. This aligns with China’s 15th Five-Year Plan (March 2026), which for the first time explicitly backs developing Hong Kong into a commodity trading powerhouse. Hong Kong plans to leverage its status as an approved LME delivery point (approved January 2025).
🎯Expected benefits include drawing more capital and activity into Hong Kong’s commodities ecosystem and giving the LME a new revenue stream. Separately, HKEX is testing tokenized carbon credits for near-instant settlement.
🎯This fits into the broader push for physical metal liquidity and trading infrastructure in Hong Kong (as referenced in the surrounding X discussion about MKS PAMP considering a vault there).
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pmbug retweeted
Gold dipped below US$4,000. Our customers went shopping. Last week:
📈 211 kg of gold bought, most since March
🔁 Only 59 kg sold back
🆕 First-time buyers up 66%
Welcome, new stackers. Nobody can print what you just bought.
📈 211 kg of gold bought, most since March
🔁 Only 59 kg sold back
🆕 First-time buyers up 66%
Welcome, new stackers. Nobody can print what you just bought.
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Oct 29 Silver Market Morning Snapshot
🇨🇳 SFE Futures $59.14 (@ 03:30)🔥
🇨🇳 SGE Spot $58.92 ($6.10🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 MCX Futures $55.22
🇮🇳 IBJA Spot $54.09 ($1.12🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $52.97
🇺🇸 COMEX Nov26 Futures $52.61 ($0.04🔻🇬🇧 LBMA Spot @ 06:06)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
PSLV🚫 (still no change to units. why drop 200K ozt yesterday?)
SLV🔼1.4M👀 (big inflow after 2 days w/no activity)
COMEX🔻668K👀
MCX🔼80K👀 (silver imports starting to reach MCX?)
SFE🔼238K👀
COMEX withdrawals are currently 85.4% of Oct26 delivery requests
COMEX 5 DMA [R] run rate = 850d (🔻from♾) @ 117K ozt/day WITHDRAWAL (🔼from 75K ozt/day DEPOSIT)👀
COMEX 5 DMA [E] run rate = 638d (🔻from♾) @ 226K ozt/day WITHDRAWAL (🔼from 144K ozt/day DEPOSIT)👀
MCX 5 DMA run rate = 27d (🔼from 22d) @ 121K ozt/day (🔻from 146K ozt/day)👀
SFE 5 DMA run rate = ♾(🔼from 515d) @ 24K ozt/day DEPOSIT(🔻from 85K ozt/day WITHDRAWAL)👀
SGE 5 WMA run rate = ♾(=from♾) @ 189K/week DEPOSIT (🔼from 43K/week DEPOSIT) (as of Oct 23)
🇨🇳 SFE Futures $59.14 (@ 03:30)🔥
🇨🇳 SGE Spot $58.92 ($6.10🔼🇬🇧 LBMA Spot @ 03:30)🔥
🇮🇳 MCX Futures $55.22
🇮🇳 IBJA Spot $54.09 ($1.12🔼🇬🇧 LBMA Spot)🔥
🇬🇧 LBMA Spot $52.97
🇺🇸 COMEX Nov26 Futures $52.61 ($0.04🔻🇬🇧 LBMA Spot @ 06:06)👀
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
PSLV🚫 (still no change to units. why drop 200K ozt yesterday?)
SLV🔼1.4M👀 (big inflow after 2 days w/no activity)
COMEX🔻668K👀
MCX🔼80K👀 (silver imports starting to reach MCX?)
SFE🔼238K👀
COMEX withdrawals are currently 85.4% of Oct26 delivery requests
COMEX 5 DMA [R] run rate = 850d (🔻from♾) @ 117K ozt/day WITHDRAWAL (🔼from 75K ozt/day DEPOSIT)👀
COMEX 5 DMA [E] run rate = 638d (🔻from♾) @ 226K ozt/day WITHDRAWAL (🔼from 144K ozt/day DEPOSIT)👀
MCX 5 DMA run rate = 27d (🔼from 22d) @ 121K ozt/day (🔻from 146K ozt/day)👀
SFE 5 DMA run rate = ♾(🔼from 515d) @ 24K ozt/day DEPOSIT(🔻from 85K ozt/day WITHDRAWAL)👀
SGE 5 WMA run rate = ♾(=from♾) @ 189K/week DEPOSIT (🔼from 43K/week DEPOSIT) (as of Oct 23)
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Oct 29 Gold Market Morning Snapshot
🇮🇳 MCX Futures $4,070.81 (~$37.03🔼🇬🇧 LBMA Spot)🔥🔥🔥
🇮🇳 IBJA Spot $4,039.80 (~$6.02🔼🇬🇧 LBMA Spot)🔥
🇨🇳 SFE Futures $4,044.19 ($14.07🔼🇬🇧 LBMA Spot @ 03:30)👀
🇨🇳 SGE Spot $4,032.86 ($2.74🔼🇬🇧 LBMA Spot @ 03:30)👀
🇬🇧 LBMA Spot $4,033.78
🇺🇸 COMEX Nov26 Futures $4,021.10 ($4.99🔻🇬🇧 LBMA Spot @ 05:36)
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
GLD🔼28K (reverses yesterday's outflow - net zero change over last two days. Shares 🔼1.2M over last two days)
COMEX🔼10K
MCX🔼804
COMEX withdrawals are currently 25.4% of Oct26 delivery requests
COMEX 5 DMA run rate = 587d (🔼from 506d) @ 39.5K ozt/day (🔻from 45.9K ozt/day)👀
MCX 5 DMA run rate = ♾(=from♾) @ 450 ozt/day DEPOSIT (🔻from 1.21K ozt/day DEPOSIT)
🇮🇳 MCX Futures $4,070.81 (~$37.03🔼🇬🇧 LBMA Spot)🔥🔥🔥
🇮🇳 IBJA Spot $4,039.80 (~$6.02🔼🇬🇧 LBMA Spot)🔥
🇨🇳 SFE Futures $4,044.19 ($14.07🔼🇬🇧 LBMA Spot @ 03:30)👀
🇨🇳 SGE Spot $4,032.86 ($2.74🔼🇬🇧 LBMA Spot @ 03:30)👀
🇬🇧 LBMA Spot $4,033.78
🇺🇸 COMEX Nov26 Futures $4,021.10 ($4.99🔻🇬🇧 LBMA Spot @ 05:36)
All quotes🚫taxes/duties for apples to apples comparisons. All quotes ~7am ET except as noted.
Vaults (ozt):
GLD🔼28K (reverses yesterday's outflow - net zero change over last two days. Shares 🔼1.2M over last two days)
COMEX🔼10K
MCX🔼804
COMEX withdrawals are currently 25.4% of Oct26 delivery requests
COMEX 5 DMA run rate = 587d (🔼from 506d) @ 39.5K ozt/day (🔻from 45.9K ozt/day)👀
MCX 5 DMA run rate = ♾(=from♾) @ 450 ozt/day DEPOSIT (🔻from 1.21K ozt/day DEPOSIT)
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