Silver Up 6% on First Notice Day After CME Crushed It — Here Is Why the Vault Math Gets Worse

Описание: Two days before first notice day, the CME Group halted metals trading on Globex without warning. Silver was breaking above $91 per ounce — a key technical level many analysts called the gateway to triple digits.

When trading resumed, price dropped sharply. But now silver has recovered — and something far more important is happening beneath the surface.

On February 27, 2026 — first notice day for the March contract — over 52 million ounces stood for physical delivery against roughly 86 million ounces of registered inventory. That’s 61% of deliverable supply formally claimed on day one.

At the same time:

Registered inventories have fallen nearly 49% in four months

Delivery rates have surged far above historical norms

London lease rates have spiked dramatically

The futures curve shows backwardation

Institutional ETF flows have accelerated

Managed money positioning remains historically underweight

This isn’t a one-day story. It’s a structural shift in how physical silver is interacting with the paper market.

In this video, we break down:

What the trading halt could signal

Why delivery pressure matters

How inventory levels affect pricing

The role of margin requirements

What backwardation really means

Why physical demand trends are different this cycle

All data cited comes from public exchange reports, institutional filings, and published market data.

If you follow silver, gold, commodities, or macroeconomic shifts, this breakdown matters — especially with the next delivery window approaching.

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📌 Disclaimer

This video is for informational and educational purposes only. It is not financial advice. Always conduct your own research before making investment decisions.



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