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Most Recent COT Report Shows Commercials Used Silver Price Dip To Close Shorts & Add Long Positions, Gold Still Just Roughly .6% of Investor Portfolio Allocations (4 Decade Average For Precious Metals In US is 2%), Iran Strike May Cause Global Margin Call Via Next Leg of Yen Carry Trade Unwind

Luke Lovett
US Bankruptcies Hit Highest Rate Since COVID, Margin Debt Makes Yet Another All Time High, 0DTE Options' Volume Hits New Records, Consumer Credit Card Debt 90 Days Past Due Hits Record 12.7%, Equity Risk Premium Goes Negative
Silver is the other side of the risk on speculative, driven mania.

Luke Lovett
China just made it much harder to short silver unless you can prove you actually need to hedge a real physical position - new rules eliminate automatic rollovers for those short positions month to month. COMEX silver is leaving vaults at a high-velocity rate (~4M oz/day recently), with only ~101M oz registered (deliverable) left.
Buckle up brah.

Luke Lovett
Silver's "paper" market is completely disconnected from physical reality. Michael Oliver (Momentum Structural Analysis) believes $300-$500 silver may be in the cards in 2026.
The last week of January saw over 6 billion ounces of silver traded — 7+ years of global production — in a single week, while physical inventories in Shanghai and COMEX are collapsing.

Luke Lovett







