🚨 COMEX Silver – something interesting is happening
March contract today:
• 364 deliveries = 1.82M oz of silver
But look at the bigger picture.
May silver contract:
• Open interest: 77,615 contracts
That equals:
➡️ 388,075,000 oz of paper silver
Meanwhile COMEX registered silver sits around:
➡️ ~78M oz
And here’s the part stackers should watch closely:
So far, COMEX is showing silver leaving the system — not flowing in.
No meaningful replenishment.
No visible surge of fresh metal coming into the vault pipeline.
Let that sink in.
388M oz paper vs 78M oz registered.
Paper can multiply.
Physical cannot.