AAAU - Gold/Silver Lease Rates Still Indicate A Tight Physical Market

In this article, I focus on the inverted implied lease rate situation, signaling an ongoing deficit in physical supply almost daily, for years running, in gold and silver.

Essentially, large physical supply is getting harder and harder to find for hedge funds, banks, central banks and brokerage dealers. Performing as the base money to discount against all paper currencies for thousands of years, money center banks and brokerages buy, sell, and lend gold/silver for their accounts to hedge currency risk. They often lend out held gold and silver in the paper markets as contracts and

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