Massive COMEX silver delivery
notices exceeded low registered inventories, fueling squeeze fears
and a short-covering rally.
Delivery notices for February 2026 COMEX silver futures, issued
on February 18 for settlement on February 20, totaled over 23
million ounces, leaving registered stocks critically low at around
90 million ounces after the drawdown. This imbalance—highlighted in
CME reports and market discussions—intensified concerns of a
physical supply squeeze, prompting aggressive short-covering
despite a firmer U.S. dollar. Concurrent safe-haven flows from
ongoing U.S.-Iran tensions provided additional support, with silver
advancing 1.7% in the prior session and another 1-3.8% intraday to
near $78-79 levels per financial reports. Gold's parallel gains
underscored broad precious metals risk-off positioning.
Any thoughts on what might happen next? If delivery
requirements exceed registered silver (which I also have heard is
very possible - we should know by next Friday), Comex can't deliver
bars that they don't have. Could get ugly, IMO. I
wonder if China holds a lot of those contracts and is using this to
empty Comex supply ... The next two weeks could be very
interesting for Silver, and I would think also Gold and related
stocks.
Massive COMEX silver delivery notices exceeded
Posted by morton7 on 20th of Feb 2026 at 09:32 am
Massive COMEX silver delivery notices exceeded low registered inventories, fueling squeeze fears and a short-covering rally.
Delivery notices for February 2026 COMEX silver futures, issued on February 18 for settlement on February 20, totaled over 23 million ounces, leaving registered stocks critically low at around 90 million ounces after the drawdown. This imbalance—highlighted in CME reports and market discussions—intensified concerns of a physical supply squeeze, prompting aggressive short-covering despite a firmer U.S. dollar. Concurrent safe-haven flows from ongoing U.S.-Iran tensions provided additional support, with silver advancing 1.7% in the prior session and another 1-3.8% intraday to near $78-79 levels per financial reports. Gold's parallel gains underscored broad precious metals risk-off positioning.
the industry experts i listen
Posted by morton7 on 20th of Feb 2026 at 05:17 pm
the industry experts i listen to say that the March deliveries will cause a huge shortage...
Any thoughts on what might
Posted by bpt_ken on 20th of Feb 2026 at 05:48 pm
Any thoughts on what might happen next? If delivery requirements exceed registered silver (which I also have heard is very possible - we should know by next Friday), Comex can't deliver bars that they don't have. Could get ugly, IMO. I wonder if China holds a lot of those contracts and is using this to empty Comex supply ... The next two weeks could be very interesting for Silver, and I would think also Gold and related stocks.
Voila'
Posted by cart3375 on 20th of Feb 2026 at 08:46 pm
Unregistered silver all of a sudden becomes registered silver.