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SUBSCRIBE to Our Channel: www.youtube.co... On the heels of last month's record-sized silver import volumes into India with over +70 million ounces imported for February 2024 alone.
This week, we saw record-sized capital inflows into one of the world's largest unsecured Silver ETFs, with an alleged 1,000 oz bar stored in London. Approximately three-quarters of a billion fiat dollar inflow. Or, more succinctly, an additional over +29 million ounce inflow into $SIVR silver ETF.
This physical inflow occurred in the Loco London vault system, and thus, the trading was private between parties, possibly not even affecting silver spot price markets.
The spot gold price closed over a $2,150 oz bid, completing its 18th week hovering above the building $2,000 oz price support threshold.
The spot silver price made a brief run at $26 oz before being slapped down, closing just below the $25 oz spot for the week.
The spot gold-silver ratio climbed on gold's strength to 87.5.
That will be all for our weekly SD Bullion Market Update.
As always to you out there, take great care of yourselves and those you love.
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