Author argues physical silver demand and a bank delivery shortfall will drive precious metals prices higher.
Unpriced research observations (excluded from Calls and Returns):
XAGUSD — LONG The author claims banks are trapped needing to source 235 million ounces of silver against only 23 million registered at Commex, forcing them to find 212 million ounces elsewhere. With global supply dry, miners having sold forward most 2026 production, refiners reporting 8-week lead times, Shanghai in shortage and not exporting, and private holders refusing to sell, the author expects physical demand to break the market and precious metals to keep rising. The stated mechanism is a physical delivery squeeze on scarce above-ground supply. Exact non-equity contract requires separate historical validation; no generic proxy.
The banks are trapped, they need to find 235,000,000 ounces of silver & deliver it… but where are they going to get it?