🇨🇳 Both SGE (Shanghai Gold Exchange) and SHFE (Shanghai Futures Exchange) just hit ALL-TIME HIGHS in silver and gold.
Silver closed at ¥11,970/kg ≈ $52.2/oz, higher than COMEX.
➡️ Physical price leads. Paper follows.
1️⃣ Is there a bigger problem than ZERO “free float” in London?
JPM could “fix” it on paper — without moving a single ounce of silver.
But they don’t. Why? 🧵👇
@KingKong9888 @pmbug
2️⃣ About 86% of all silver in London is locked inside ETFs/ETCs — mostly SLV.
SLV holds 12,213t in London and 3,209t in NY (Comex).
All within JPM’s vaults.
In theory, JPM could shift some SLV shares from London to NY
and instantly free up silver in London.
Yet they keep it tight
3️⃣
Most silver in NY might be held in customer accounts, not JPM’s own “house” stock meaning it can’t be pledged to SLV.
And since silver was recently added to the U.S. strategic mineral list, those clients probably don’t want their silver “transferred” to London anyway.
🧵 | Paper Smash Confirmed — COMEX vs. Physical Reality
1️⃣
Friday’s COMEX data (Oct 10 2025) tells the story:
Open Interest jumped +1,591 contracts in one day — that’s ~8 million paper ounces of “silver” magically appearing on screens.
Volume hit 158,816 contracts.
No mine dug this metal out of the ground overnight.
2️⃣
Each COMEX contract = 5,000 oz of Ag.
Total OI now stands at 171,302 contracts = 856 million oz paper silver.
Meanwhile, COMEX warehouses hold just ~280 million oz registered + eligible.
That’s 3 paper ounces for every real one.
3️⃣
What happened next?
Price dumped below $51 while China’s SGE and SFE traded $59+ per ounce.
A $8 spread between East and West.
Physical stays strong — paper panics.
🧵 1/
🚨 Silver just broke $50.
Now at $51.40/oz, up +2.2% today — and smashing through every technical ceiling in sight.
This isn’t a rally anymore.
It’s a structural break.
#Silver #SilverSqueeze
2/ LBMA clearing data for August showed +26% jump in silver transfers — fewer transactions, but 43% bigger average size.
That’s not “trading.”
That’s metal moving across oceans.
COMEX → London.
Spot market’s starving for real ounces.
3/ When it takes 18 years to open a new gold mine in Australia, imagine how long it takes to restart a silver supply chain already running dry.
Demand can overwhelm supply fast.
#Gold #Silver
1️⃣
🚨 BREAKOUT CONFIRMED
Silver just hit a new all-time high — $51.47/oz.
This isn’t a rally. It’s a rupture in the system. Mini thread with a big meaning 💥🧵
#Silver #SilverSqueeze
2️⃣
For years they said: “Too heavy to move, too cheap to care.”
Now silver is proving why real money always finds its way out when paper markets run dry. 💥
3️⃣
LBMA spot > COMEX futures.
Borrow rates surging.
Physical premiums exploding.
They’re not “trading silver” anymore — they’re fighting for it. ⚔️