It Appears That Another 6.4 MILLION OZ are Preparing to Stand for March COMEX Silver Delivery.
March OI declined by 366 contracts Friday- with nearly half of that decline delivery notices.
March OI remains at 1,281 contracts - or 6.405 million oz.
We suspect that the majority of these 1,281 contracts plan to stand for delivery in March - meaning another 6+ million oz of silver will be removed from COMEX vaults shortly.
With 33 million oz + already standing for delivery in March silver, the final numbers look likely to end up just shy of 40 million oz by the end of the month.
Not enough for a hard COMEX default THIS month, but enough to slice COMEX REGISTERED Silver Inventories in HALF!
Barring an escalation into WW3 or a complete financial collapse triggered by surging oil prices, COMEX silver inventories look likely to reach a final CRISIS POINT before the end of the summer.
Shanghai silver inventories are even worse, with TOTAL SHFE Silver Inventory now down to just 8 million oz.
8 million oz of silver TOTAL for China’s largest silver exchange!
While COMEX may survive until the summer months, the SHFE will be COMPLETELY OUT of physical silver in only a few weeks unless something changes drastically!
