Скачать или смотреть COMEX Under Pressure: Inventory Collapse Meets Deadline

239 million ounces in March claims. 88 million ounces registered. First notice in 5 days. This is no longer about price — it’s about delivery.

Today silver closed at $84.52, up 7.77% in a single session and nearly 25% in just 11 days. But the rally is not the real story. The real story is the structural imbalance building inside the COMEX warehouse system as the March contract approaches first notice.

Registered silver has fallen from 170 million ounces in October to just 88 million today. Nearly 90 million ounces have left the warehouse system in the past four weeks alone. Meanwhile, March open interest still represents 239 million ounces of contractual demand — almost three times the available registered supply — and the participants still holding positions are the ones who survived six margin increases.

Margin requirements have more than tripled since October. Weak hands are gone. What remains is committed capital.

If open interest does not collapse fast enough before Thursday’s cutoff, the delivery math tightens significantly. The COMEX cannot technically default, but forced cash settlement remains a structural risk if physical supply proves insufficient. That would not be a legal failure — it would be a credibility event.

Silver’s recent surge suggests short covering may already be underway. The May contract has already surpassed March in open interest, meaning pressure does not end here.

This video breaks down the exact delivery mechanism, key calendar dates, warehouse inventory trends, open interest slopes, margin escalation, and the data signals that will determine whether this is a routine rollover — or a stress test of the Western pricing system.

📊 Market Data Links

silver Spot price: https://comexlive.org/

Gold Spot Price: https://comexlive.org/

Silver Open/high/low/close: https://www.investing.com/

Gold Open/high/low/close: https://www.investing.com/

Silver Futures - Settlements: https://www.cmegroup.com/

Gold Futures - Settlements: https://www.cmegroup.com/

Silver Futures - Quotes: https://www.cmegroup.com/

Gold Futures - Quotes: https://www.cmegroup.com/

Silver Futures Historical Data: https://www.investing.com/

Gold Futures Historical Data: https://www.investing.com/

DXY: http://finance.yahoo.com/

U.S. 10 Year Treasury: https://www.cnbc.com/

Bitcoin : https://www.coindesk.com/

silver and gold delivery notices: https://www.cmegroup.com/

COMEX warehouse inventories: https://datatrack.trendforce.com/

Silver stocks (COMEX warehouses): https://www.cmegroup.com/

Gold stocks (COMEX warehouses): https://www.cmegroup.com/

Gold-silver ratio trends: https://www.macrotrends.net/

Daily Metals Volume and Open Interest: https://www.cmegroup.com/market-data/

DISCLAIMER

The content in this video is for educational purposes only and reflects personal market analysis and opinion. It is not financial advice. Silver and precious metals markets are volatile and involve substantial risk. The scenarios discussed combine current market data, historical precedent, and structural analysis of futures market mechanics. Always conduct independent research and consult a licensed financial professional before making investment decisions. I am not responsible for any financial decisions made based on this content.