A Historic Moment for Silver.

Yesterday, SLV (the world’s largest Silver ETF) traded $38 Billion in total value and 393 Million shares in total volume:

• It was SLV’s highest-ever value traded (no other day in history even came close).

• It was SLV’s highest-ever volume (prior records: May 5 2011, February 1 2021).

To gauge the true scale of this frenzy…

Let’s compare it to SPY which traded $42 Billion yesterday.

In its entire 20-year history, SLV traded this much relative to SPY *only once* before:

On April 25 2011.

Other notable dates highlighted in the chart:

April 28 2011 was the third-highest ratio ever recorded — at 0.5041.

Only two days in history came this close to 1.00.

Just a bit more, and SLV could have traded more than SPY for the first time ever.

That’s how big yesterday was.

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Thanks for reading.

Onwards and upwards, -MC

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