Important: The silver price you see on screens is completely fake, what can happen in the next 2-3 weeks can be historical, above and beyond January events. ⚠️👇🏻
So far in Feb 98% of the OI stood for silver physical delivery JUST IN THE FIRST 6 DAYS
In Feb25 for the WHOLE MONTH ~24m/oz physically settled, in the first 5 days of Feb26 we are already at ~19m/oz and contracts are bought for immediate delivery
Mar25 total delivery was 80m/oz or 3X vs Mar24. In Mar26 the OI is still over 400m/oz of silver and only 103m/oz of silver left as registered to settle futures contracts. If only 25% settle physically, there won’t be enough silver left to settle. If the trend vs 2025 and 2024 continues of 3X or 4x higher figures 240m/oz will be standing delivery and at that point the Comex breaks
We are 3 weeks away from March first delivery day, but the numbers are undeniable and show how the drain is intense and accelerating.
We already see buyers of physical front running this, not only because they need to secure physical supply in an extreme shortage but likely because they made the same calculations.
On the other side of the ocean in China things are even worse with only 11.5m/oz left at the SHFE and ~16m/oz left at the SGE so LESS than 30m/oz left in China.
What about the LBMA? Accurate figures are hard to come by but good estimates point to a ~150m/oz of physical silver free float left
🚩 All numbers, like it or not, are pointing towards a complete break of the paper price markets system mechanism if the prices stay at the current level
Thank you for your attention on the matter 🙏
https://x.com/DarioCpx/status/2019930997761188302