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Ronan Manly: Not much silver left in London to fulfill new net purchases
12:50p ET Monday, February 8, 2021
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly today examines the 14 major silver-backed exchange-traded funds and concludes that they claim most of the metal reported to be vaulted in London and that little metal, about 3,000 tonnes, remains available for new net purchases.
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Manly concludes: "Let's not forget all the unallocated silver positions that are outstanding that are claims against the bullion banks for silver they have not got. Anyone with deep enough pockets could now cause a serious run on the remaining available silver stored in London that is not currently attributed to the above ETFs."
His painstaking analysis is headlined "Houston, We Have a Problem: 85% of Silver in London Is Already Held by ETFs" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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