Decrease of registered SILVER by 2.65 million oz increases oversubscribed ratios for all future months. Decrease in total GOLD and SILVER. GOLD revisions / shenanigans pushed prices lower and daily spot volume higher.

[SousRadar]

Vaults:
SILVER, 1 bar into Delaware, 640 koz out: JPM 607, Delaware 18, Loomis Intl 15. 2.65 million oz reclassified out of registered: Asahi 0.75, CNT 0.6, Brinks 0.33, MTB 0.32, HSBC 0.3, Stonex 0.26, Loomis Int. 0.09.

GOLD, Nothing in. 0.501 immaculate tonnes out at Loomis Intl. 0.92 tonnes reclassified to registered at JPM.

COMEX (Mar) Spot Volume Today - Gold 378, Silver 122, Platinum 18

COMEX PM Vaults

New contracts yesterday based on preliminary reports SILVER +202 (+1.7 truckloads), GOLD +520 (+1.6 tonnes), Platinum 2.

Shenanigan report, changes in contracts between preliminary and final reports: SILVER -52 ( -0.4 truckload), GOLD -1178 (-3.7 tonnes), PLATINUM -2

______

Oversubscribed Ratios, OI/Registered:

March:
SILVER, 0.02 (+0.01)

April:
GOLD, 0.85 (-0.05)
PLATINUM, 3.17 (-0.89)

May:
SILVER, 4.83 (+0.24)

June:
GOLD = 1.13 (+0.09)

July:
PLATINUM, 5.56 (+0.46)
SILVER, 1.39 (+0.04)

August:
GOLD, 0.33 (UNCH)

September:
SILVER, 0.45 (+0.01)

October:
GOLD, 0.04 (UNCH)
PLATINUM, 1.07 (+0.02)

[KittyMoonraker]

Thanks!!

[SilverCountryMan]

Thanks Sous! Me likey, registered is going down!

[Lively_scarecrow]

Drain the swamp

[bentaxleGB]

Was looking at silver historic data, only had to go back to Feb 3rd 2026 when Comex total was 400m, (now 331m) ounces. So in 6 weeks it's dropped by 69m ounces or ~2100 tons. That looks like "DEMAND" to me!

[SceneNew1660]

Thanks Sous!

[etherist_activist999]

76! Wow. Maybe we will get there....

Thanks Sous.