According to the Reuters report, the U.S silver stocks hit the highest mark on April 16, 2012. A spokesperson at US exchange operator CME group that owns COMEX reached 284.28 million ounces on the day.
The analysts of the silver or precious metals market, in general, say that when people start preferring to get into Comex, it is because they don’t have a better option of dealing with the metal. Comex stocks become strong due to low premiums, which indicate low global demand for the metal.
However, the rise has not affected the prices of silver. Nevertheless, it indicates a fluid relationship between silver stocks and silver spot price. The silver prices have gone higher by 13 % during the year 2012 until now, and inventories have increased by more than 20 %, where stocks have come down to their lowest in last June at 97.86 million ounces almost in a decade. But since then, they have gone steadily higher. Current situations show that the stocks are 28 % above their levels last April when silver prices were highest!
The precious metals investment market experts also say that the industrial demand is not low from any field or sector, especially from the electronics sector. They also added that it is very natural for the silver to go more into the Comex as most of the silver is produced in the Americas!