On JD.com prices range from high $80s to over $125. Remember even if you double the price of silver it does very little to impact the price of the final good (perhaps a 3% price increase in final good)
“The Silver Shockwave: Squeeze Engulfs the Globe”
A historic silver squeeze is detonating across every corner of the physical market, shattering norms and sending shockwaves from refinery to retailer. Inventories at the world’s bullion hubs, from London and New York to Singapore and Sydney, have been decimated. The crisis is so severe that even the esteemed mints of Canada and the UK are displaying “out of stock” warnings, with queues backing up for the smallest denomination bars. In Asia, buyers in Singapore, Vietnam, Hong Kong, and beyond face barren shelves and unprecedented waitlists, while Sydney’s bullion shops are gridlocked with buyers clamoring for the last reserves.
“200% Lease Rates and the LBMA Timer: Only Weeks Left”
The strain is now breaking the backbone of global silver trade—the London Bullion Market Association (LBMA). Lease rates for silver, typically negligible, have surged past a jaw-dropping 200% annualized—a level signaling near-total exhaustion of immediately available supply. As of today, credible estimates warn the LBMA could be just three weeks away from running completely dry if nothing changes. This isn’t paper speculation or market manipulation—physical metal is simply vanishing. Desperation among banks and traders is so rampant that they are scrambling to charter jets to fly bars in from New York and beyond, simply to keep the system from seizing altogether.
“Every Market, Every Mint, Every Outlet: Sold Out”
The shortage is painfully democratic—it touches every geography and economic layer. At the Royal Canadian Mint and The Royal Mint in Britain, premium products have disappeared from digital shelves. Stateside, US wholesalers and even Costco report delays and stockouts, fueling a frantic rush for whatever silver remains. Singapore’s iconic BullionStar warns it has never seen demand this ferocious. Vietnam and Hong Kong are seeing a parallel run on bars and rounds, with waiting lists stretching out for weeks. In Australia, demand is so brisk that major shops are turning away new customers, intent on preserving metal for loyal clients.
“Industrial Panic: Forty Thousand Firms on Edge”
The heart of the shortage isn’t mere investment—industrial firms worldwide, from electronics makers to solar giants, are scrambling to secure raw material. Analysts estimate that upwards of 40,000 companies, spanning automotive, renewable energy, and tech manufacturing, now face existential risk if supplies don’t recover. With five straight years of massive global deficits, buffers and warehouses are empty. Whatever metal isn’t locked away in exchange-traded products is either spoken for or stuck in transit. The result is a scramble unlike anything seen in decades—a literal fight for survival among manufacturers.
“The Endgame: Broken System, Rising Prices, No Relief in Sight”
This isn’t the story of a temporary blip. It is the tale of a market that can’t self-correct—physical silver is now so scarce that prices have soared to record highs, and premiums for immediate delivery are skyrocketing above futures prices. The spread between New York and London sits stubbornly wide, a testament to an arbitrage chain blocked at every turn by risk and shortage. Central banks, industry, mints, and private investors are now locked in direct competition, and the world is waking up to a reality in which the industrial bedrock of modern life is quite literally running out. For global industry and those who require silver for essential operations, the stark truth is clear: the squeeze has only just begun, and the clock is ticking loudly