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May COMEX Silver Rolling To July As Open Interest Continues To Rise

Written by

Jon Lindau
A crumbling castle labeled COMEX with glowing red cracks, silver bars flying, and a crowd standing on piles of silver bars

April 10 is decision day for May silver, and SilverTrade Insiders should know exactly what they’re looking at. Contracts rolling to July mean traders who want EXPOSURE. Contracts held into first notice day mean someone coming for the METAL. After March’s multi-decade lows in open interest, the numbers above (4,028 contracts rolled Thursday, May OI down to 61,519, total OI climbing four straight days off the March 20 low of 111,607) look like normalcy returning after the winter squeeze. Boring? Maybe. Boring is DATA.

For the big picture, the episode below is anything but boring. Don Durrett makes the case that this is “the third and final gold bull market” after the 1970s and the 2000s (11:17). His base case, his words, his track record: $7,000 gold inside 24-36 months (30:41). And since “silver does not lead - gold leads” (40:03), a silver band of $140-210 IF that gold call lands (32:24).

Delivery numbers are facts. Durrett’s targets are forecasts. We print both and tell you which is which. That’s the deal here.

Yesterday we noticed that the front month May COMEX Silver contract had begun rolling forward to the July & September contracts - a sign that normalcy was returning to COMEX silver.
 
That process continued Thursday, as another 4,028 contracts rolled from May to July.

COMEX data table for April 9, 2026, with May and July 2026 rows highlighted; May open interest down 4,028, July up 4,647.

 
May silver OI is now down to 61,519, while July has risen to 37,818 after gaining 4,647 contracts Thursday.
 
Total OI has risen for 4 consecutive days now after making multi-decade lows in the wake of silver’s correction to $61.
 
OI closed at 116,483 Thursday, after bottoming March 20th at 111,607.
 
Expect silver’s COMEX OI number to increase quickly once silver places a WEEKLY CLOSE back above $82-$84, as speculators begin to rush back into the silver market they had left for dead in the wake of the Feb-March 50% price correction.

“I RECOMMEND YOU PANIC - EVERYTHING IS BURNING!”  Durrett warns our lifestyle is about to get RUG PULLED, & ONLY GOLD, SILVER, & the MINING SHARES WILL PROTECT YOU FROM WHAT’S COMING!

Disclosure

The SilverTrade Insider publishes market news and interviews with named analysts. Opinions expressed by contributors and interviewees are their own, and they may hold positions in the metals, miners or securities they discuss. Nothing here is investment advice.

SilverTrade is affiliated with SD Bullion, a precious-metals retailer, and SD Depository, a precious-metals storage company. Some contributors hold roles at affiliated companies. See our Editorial Policy.

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