The Shanghai Futures Exchange Silver contracts started in May 2012 and provide a very important indicator for the silver price.
In fact I even believe that silver inventory at the SHFE warehouses is a leading indicator for the silver price.
You can find the data here: http://www.shfe.com.cn/en/MarketData/dataview.html?paramid=week
I have plotted the silver price in U.S. dollars (orange) Vs. silver stocks at the SHFE warehouses (blue). As you can see the SHFE silver stock bottomed in 2014 and started to rise to a high in 2016. Silver prices followed this move upwards with a delay of a year.
Then, silver stocks at the SHFE dropped in July 2017 and silver prices dropped with a delay in July 2018.
It will be interesting to watch how the SHFE silver warehouse stocks are evolving now as there is talk about a whale buying up silver. This whale is thought to be China so we should see this happening in the SHFE silver warehouses soon.
In fact I even believe that silver inventory at the SHFE warehouses is a leading indicator for the silver price.
You can find the data here: http://www.shfe.com.cn/en/MarketData/dataview.html?paramid=week
I have plotted the silver price in U.S. dollars (orange) Vs. silver stocks at the SHFE warehouses (blue). As you can see the SHFE silver stock bottomed in 2014 and started to rise to a high in 2016. Silver prices followed this move upwards with a delay of a year.
Then, silver stocks at the SHFE dropped in July 2017 and silver prices dropped with a delay in July 2018.
It will be interesting to watch how the SHFE silver warehouse stocks are evolving now as there is talk about a whale buying up silver. This whale is thought to be China so we should see this happening in the SHFE silver warehouses soon.
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