COMEX Is Bleeding Silver.
🧵 1/
While everyone watches the price…
COMEX silver is quietly bleeding.
And almost nobody is talking about it. 🩸🥈
Let’s look at what just happened.
2/
📉 TOTAL REGISTERED SILVER:
Was: 101,394,888 oz
Now: 98,138,005 oz
💥 −3,256,882 oz
In. One. Day.
Registered = metal ready for delivery.
That’s the ammo pile shrinking.
3/
📉 TOTAL COMBINED STOCKS:
Was: 386,273,024 oz
Now: 381,568,803 oz
💣 −4,704,221 oz gone.
Not a paper move.
Not a spreadsheet trick.
Physical silver leaving the system.
4/
Let that sink in.
Almost 5 MILLION ounces drained in 24 hours.
At $83 silver.
This isn’t panic selling.
This is positioning.
5/
Now here’s where it gets interesting:
JP Morgan
👉 −2,565,810 oz (Eligible)
Loomis
👉 −1,088,419 oz
Asahi
👉 −610,906 oz
When custodians move size like that… it’s not retail.
6/
Registered silver is now under 100M oz.
Psychological level.
Only ~25% of total inventory is actually deliverable.
That ratio is not comfortable.
7/
And here’s the kicker:
February deliveries already near 23 MILLION ounces.
Let me repeat.
23 million oz standing for delivery.
In a non-major month.
8/
High price.
Heavy deliveries.
Falling inventories.
That’s not weakness.
That’s tension building.
9/
Paper traders see candles.
Stackers watch warehouses.
And warehouses are getting lighter.
10/
If this pace continues…
COMEX doesn’t need to “run out.”
It just needs to get tight enough.
Tight markets reprice violently.
11/
You don’t need hysteria.
You don’t need conspiracy.
You just need math.
And math says silver is being absorbed.
Quietly.
12/
Physical > Paper.
Always.
🥈🔥
#Silver
#SilverSqueeze
#Stackers
#COMEX
#PhysicalSilver
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