Silver futures surge past $117 amid physical supply crunch

[bonk]

Silver futures climbed above $117 on January 29, extending a historic rally that has delivered roughly 275% gains over the past year. The surge is being driven by an acute physical supply shortage, with warehouse inventories now covering just 14% of outstanding futures positions.

COMEX data shows total silver holdings at approved warehouses have fallen to 411.7 million ounces, while registered inventory — metal available for immediate delivery — stands at just 107.7 million ounces. With open interest equivalent to 760 million ounces, analysts warn that even modest delivery demands could strain the market.

[kevin1]

only 14% of open interest actually backed by warehouse silver, yikes for the shorts