I posted on this topic on May 16th, which a look back at the silver chart, was right around the $32.50 top. I didn’t have any opinion at the time if the bifurcation was going to lead to a correction or a further upside move.

The bifurcation has continued and may even be getting worse. It seems retail buying has moderated, which makes some sense, since the correction has been ongoing over the last few weeks.

Additional evidence of this retail slowdown comes with an official announcement by the Royal Canadian Mint that they have halted buying additional silver from their suppliers for a number of months.

This could be because retail buyers have wised up and are mostly buying generic rounds instead of Maple Leafs and US Eagles. They are realizing that when it comes time to sell or barter it is weight and weight only that matters. The exhorbitant premiums on sovereign coins isn’t worth it.

It is also quite possible this is more about the Mint not being able to get silver because of a growing shortage at the industrial and mint buyer level? If that is what is actually happening, then the RCM is gaslighting us.

We already know that the US Mint hasn’t been making and issuing, anywhere near the levels of the past, of US Silver Eagles. The shortage (in my opinion) is real and growing at the industrial and mint level. It just hasn’t shown up at the retail level yet. Get your physical before it does.