90% silver JFK halves down to about 2% over premium (apmex.com), indicating refineries have HALTED nearly all melting of junk silver. Likely because the lease rates are too high. Refineries in the past have not actually purchased the silver, but only lease it until refining is complete from what I understand.
A silver refiner expert may opine on whether this is changing.
90% silver JFK halves down to about 2% over premium (apmex.com), indicating refineries have HALTED nearly all melting of junk silver. Likely because the lease rates are too high. Refineries in the past have not actually purchased the silver, but only lease it until refining is complete from what I understand.
A silver refiner expert may opine on whether this is changing.
JUNK is only 90% they haven't been refining that for months,from what I heard.
If we go into backwardation,they will quit refining. 999 silver even,as it's to expensive to hedge or borrow.