Another ~7% of COMEX Vault Inventory GONE In One Day, Chinese Vault Inventory On Pace To Be DRAINED Within 15 Days, ~1.6 Million Ounces Reportedly Taken for Delivery By JPM And BofA, Silver Demand Has Outpaced Supply by 800 Million Ounces In The Last 6 Years

COMEX registered silver just fell by ~6 million ounces in one day.

Registered inventory was sitting around ~88 million ounces.

Now it’s closer to ~81 million ounces.

That means roughly 7% of deliverable COMEX silver disappeared in a single day.

COMEX futures trade hundreds of millions of ounces per day on paper.

Yet the metal actually available for delivery is now barely ~80 million ounces total.

That’s a tiny physical cushion relative to the size of the derivatives market.

And China just saw a massive vault drawdown at the same time.

The Shanghai vault data shows roughly 6.2% of silver inventory leaving in one day.

Not over weeks.

One day.

China is the largest industrial consumer of silver on the planet — solar panels, electronics, batteries, semiconductors.

When metal leaves Chinese vaults, it usually means real industrial demand or private accumulation.

That’s physical metal leaving the system, not futures contracts changing hands.

Meanwhile - according to CME clearing data, Bank of America and JPMorgan together acquired roughly $140 million worth of physical silver on March 3rd.

Access the Signal Behind the Distortion