March squeeze defused by 17% price move. 350M oz rolled to May. Vault at 87M oz. Mexico supply disrupted. The real story starts now.
Wednesday, February 25, 2026: silver hits $90.40, up 17% in 6 trading days as the March COMEX squeeze defuses through price action. March open interest collapsed from 268M oz to 114M oz in 6 sessions — but 121M oz of that rolled directly into May, which now holds 350M oz of open interest above an 87M oz registered vault. COMEX registered silver has drained 47% since October 2025, from 167.7M to 87.17M oz, with the Mexico silver bar supply route currently disrupted by cartel activity, restricting the primary replenishment source. Shanghai reopened after 10 days dark with SHFE inventories at a 10-year low, confirming two consecutive sessions of Chinese institutional buying. PSLV holds allocated silver at the Royal Canadian Mint — structurally independent from COMEX delivery mechanics. During January's crash, PSLV held its NAV floor while paper silver sold at an 11.6% discount and physical Eagles commanded 30-40% premiums. This video documents the four data points that will determine whether May's delivery window produces orderly settlement or structural stress. All data sourced from CME public records. Educational analysis only. Not financial advice.
Silver Spot price: https://comexlive.org/
Gold Spot Price: https://comexlive.org/
Silver Open/high/low/close: https://www.investing.com/currencies/...
Gold Open/high/low/close: https://www.investing.com/currencies/...
Silver Futures - Settlements: https://www.cmegroup.com/markets/meta...
Gold Futures - Settlements: https://www.cmegroup.com/markets/meta...
Silver Futures - Quotes: https://www.cmegroup.com/markets/meta...
Gold Futures - Quotes: https://www.cmegroup.com/markets/meta...
Silver Futures Historical Data: https://www.investing.com/commodities...
Gold Futures Historical Data: https://www.investing.com/commodities...
DXY: http://finance.yahoo.com/quote/DX-Y.NYB/
U.S. 10 Year Treasury: https://www.cnbc.com/quotes/US10Y
Bitcoin : https://www.coindesk.com/price/bitcoin
silver and gold delivery notices: https://www.cmegroup.com/solutions/cl...
COMEX warehouse inventories: https://datatrack.trendforce.com/Char...
Silver stocks (COMEX warehouses): https://www.cmegroup.com/delivery_rep...
Gold stocks (COMEX warehouses): https://www.cmegroup.com/delivery_rep...
Gold-silver ratio trends: https://www.macrotrends.net/1441/gold...
Daily Metals Volume and Open Interest: https://www.cmegroup.com/market-data/...
DISCLAIMER:
The content in this video is for educational purposes only and represents my personal opinions and market analysis. It should not be considered professional financial investment advice.
The financial markets, including silver and precious metals, are volatile and subject to significant risks. The scenario described involves a mix of historical fact, current market mechanics, and simulated future events based on present trends. You should always conduct your own due diligence and consult with a certified financial planner or advisor before making any investment decisions. I am not responsible for any financial losses or decisions made based on the information provided in this video.
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