Shanghai Silver Inventory Vs. Shanghai Silver Premium

What a beautifully correlated chart. As you can see here, when Shanghai inventories get depleted, stress increases in the China silver market. Silver premiums spike.

SHFE gold Vs. China gold ETF

SHFE gold inventory is correlated to China gold ETF inventory. Both are rising but are still a very small percentage of global inventory. It is a new rising trend. 

Silver Inventories

This is how the silver inventories compare. 

SHFE China Silver Whale Update

The rise in SHFE stock continues to rise up. Silver's day will come.

SHFE China Silver Whale Is Relentless

Another week passed, another new high.

SHFE Chinese Silver Whale Keeps Buying

As predicted, silver went up and it has still room to go higher. (BTW, this is a record high in silver warehouse stock)

SHFE silver discrepancy growing

Data shows silver will break out.

SHFE Silver Whale Keeps Buying

The spread is getting wider and wider. The Chinese are buying.

Silver is about to explode

Just 3 words: OMG.

SHFE China Silver Whale is Buying

This should be positive for silver.

China Silver Whale Still Exhausted

No improvement whatsoever, more weakness in silver to come.

China silver whale exhausted

Caution advised as China silver whale is buying less silver. We could see silver price flattening out.

Update on Shanghai silver SHFE warehouses

Just an update that China silver whale is still buying silver.

SHFE Shanghai Futures Exchange Silver Vs. Silver Price

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.