Silver Futures Open Interest Plunges Over 50% After Halt

Описание: Silver futures markets recorded a more than 50 percent collapse in March open interest following Wednesday’s trading halt on the Chicago Mercantile Exchange. Open interest fell by 11,356 contracts to 10,526, reducing potential delivery obligations from over 110 million ounces to 52.6 million ounces in a single session.

During the 90-minute trading pause, 31,828 contracts changed hands while retail participants were locked out of the exchange. When trading resumed, silver prices had already declined by four dollars, with subsequent selling driving prices from 91 dollars down to 85 dollars before recovering to 88 dollars. Veteran trader Peter Brandt has publicly stated he is discussing threatened lawsuits against the Chicago Mercantile Exchange related to the session.

Physical vault data shows 1.3 million ounces were drained from Comex registered inventories during the halt. Withdrawals included 218,000 ounces from Brinks, 624,000 ounces from HSBC, 25,000 ounces from JP Morgan, and 619,000 ounces from MTB. Total registered silver now stands at 86.13 million ounces, with total Comex inventory at 360.64 million ounces. The coverage ratio sits at 0.60, meaning registered silver covers 60 percent of one month’s delivery obligations. Over the past 30 days, 54.51 million ounces have left Comex vaults, representing a 13 percent inventory decline.

In Eastern markets, Shanghai spot silver is trading at 97 dollars, with futures at 100 dollars, maintaining a 9 dollar premium over Western spot silver at 88 dollars. This premium persisted through the halt and subsequent recovery.

India’s securities regulator has authorized 385 billion dollars in actively managed equity funds to allocate up to 35 percent into precious metal instruments. Effective April 1, Indian mutual funds will value physical gold and silver holdings using domestic exchange spot prices rather than LBMA benchmarks.

The report also details ongoing legal proceedings involving Jane Street and Terraform, including allegations surrounding material non-public information, a 235 million dollar withdrawal from Curve’s three pool in May 2022, and related regulatory actions.

All figures cited are drawn directly from the referenced source material and are recommended for independent verification through primary data sources. Stay informed with verified updates.