What an interesting paradox we have here at the midpoint of 2023. Earlier this year, an organization called The Silver Institute reported on the latest global physical demand trends for silver. Given the "green agenda" and the growth in interest in all things electrified, it would follow that demand for silver as an industrial component would be soaring—and it is. In fact, The Silver Institute estimated that in 2022 alone, demand for physical silver outstripped supply by nearly 240,000,000 ounces:

• https://www.silverinstitute.org/silver-supply-demand/

Given that physical silver demand is surging to record levels, it would seem logical that demand for COMEX digital silver would be surging too. Nope. In fact, demand for COMEX silver (as measured by total contract open interest) is now at eleven-year lows.