COMEX Warehouse Monitor
Physical Inventory Data
76.43M oz
@ $76.64/oz Registered (deliverable)
7d Chg
0 oz
Vault Flow
🔻 -470K ozOutflow
Paper:Physical
8:18 claims per deliverable
Runway
49 days
Taken for Delivery(30d)
5,354contracts
26.77M oz ownership transferred
2,849 bank / 2,238 client(partial breakdown)
Total in Vaults
327.19M oz
76.43M oz deliverable + 250.76M oz stored
Apr 6, 2026 Flow Breakdown
Warehouse Flows
Inventory Changes
Who's Betting on Silver?
Every week, the CFTC reveals how big players are positioned in futures markets
Hedge funds are betting silver will rise
They added 108 more long contracts since the last report, increasing their bullish position.
Net contracts over time (positive = bullish bets, negative = bearish bets)
- Commercials
- Hedge Funds
Depository Watch
12 COMEX-approved silver vaults
469.6K oz physically left the vaults. Brink's saw the largest registered decrease. metal moved from eligible to registered (new warrants issued).
Physically Added
Physically Left
| Vault | Registered | Eligible |
|---|---|---|
| JPM | 11.98M oz | 133.56M oz |
| Brink's | 10.92M oz(+10K oz) | 38.88M oz(-10K oz) |
| Loomis | 4.22M oz | 22.44M oz(-874K oz) |
| Asahi | 20.69M oz | 2.49M oz |
| CNT | 11.73M oz | 10.07M oz(+409K oz) |
| HSBC | 3.01M oz | 17.04M oz(-5K oz) |
| Delaware | 1.80M oz | 15.34M oz |
| MTB | 5.08M oz | 5.16M oz |
| StoneX | 6.24M oz | 2.13M oz |
| IDS | 178.5K oz | 2.71M oz |
| Malca-Amit | 582.1K oz | 945.2K oz |
| Malca-Amit Armored | 0 oz | 0 oz |
| Total | 76.43M oz(+10K oz) | 250.76M oz(-480K oz) |
Silver Inventory (3 Months)
Registered (deliverable) overlaid on total inventory
- Registered
- Total (Reg + Eligible)
Daily Delivery Activity
Which contracts were settled with real metal — and who received it
How COMEX delivery works
① Issuer delivers
A short (seller) transfers a warehouse warrant — their promise to deliver real metal — to the exchange.
② Stopper receives
A long (buyer) "stops" delivery — they accept the warrant. They now own that specific metal in that specific vault.
③ Metal may leave later
The new owner can keep the warrant registered in the vault, or cancel it and physically withdraw the metal. Stops alone don't move oz.
Why stops ≠ inventory change: Deliveries transfer warrant ownership between parties. The oz count only changes when a warrant is cancelled (metal leaves) or new metal is deposited and warranted (metal enters). These are tracked separately as "vault flows."
| Date | Issued | Stopped | Bank Acct | Client Acct | Oz Changed Hands | Value |
|---|---|---|---|---|---|---|
| Apr 6 | 485 | 485 | — | 485 | 2.42M oz | $185.9M |
| Apr 2 | 42 | 42 | 16 | 26 | 210.0K oz | $16.1M |
| Apr 1 | 10 | 10 | — | 10 | 50.0K oz | $3.8M |
| Mar 31 | 3 | 3 | 3 | — | 15.0K oz | $1.1M |
| Mar 30 | 267 | 267 | — | — | 1.33M oz | $102.3M |
| Mar 27 | 54 | 54 | 44 | 10 | 270.0K oz | $20.7M |
| Mar 26 | 6 | 6 | 6 | — | 30.0K oz | $2.3M |
| Mar 25 | 275 | 275 | 119 | 156 | 1.38M oz | $105.4M |
| Mar 24 | 43 | 43 | 31 | 12 | 215.0K oz | $16.5M |
| Mar 23 | 121 | 121 | 110 | 11 | 605.0K oz | $46.4M |
| Mar 20 | 64 | 64 | 38 | 26 | 320.0K oz | $24.5M |
| Mar 19 | 138 | 138 | 120 | 18 | 690.0K oz | $52.9M |
| Mar 18 | 241 | 241 | 196 | 45 | 1.21M oz | $92.4M |
| Mar 17 | 157 | 157 | 47 | 110 | 785.0K oz | $60.2M |
* Bank Acct + Client Acct may not sum to Stopped on days where per-account breakdown wasn't reported by CME. Issued always equals Stopped — they are two sides of the same transaction.
Frequently Asked Questions
Report Archive
Browse historical COMEX warehouse & delivery reports
Registered Δ
-2,180,446.147 oz
(-2.8%)
Net Flow
-17,351,453.813 oz
Total Received
+3.69M oz
Total Withdrawn
-21.04M oz
Total Stops
2,866(14.33M oz)
1,459 house (7.29M oz)
Verified CME Group Sources
We built an automated pipeline that monitors CME Group's official reports every 30 minutes. When CME publishes new data (usually after 6 PM ET), our system detects the change via content-hashing and pulls the updated numbers within minutes. Every version gets archived so we can track historical changes. No manual data entry, no third-party feeds — straight from the source.
⚠ CME overwrites these static URLs daily; our system captures the unique state of each file as it's published.
ⓘ Inventory data typically updates after 6:00 PM ET on trading days.
Metals Commentary
We break down COMEX data and precious metals market moves every week. Here's our latest analysis — the context that raw numbers don't show.
The Math is Broken: Why Silver is Draining the COMEX 2026
Feb 11, 2026
Silver Shortage 2026: The Truth About COMEX Default Risks
Feb 10, 2026
Silver Price Prediction 2026: The Global Currency Reset | Clive Thompson
Feb 5, 2026
Why Silver & Gold are "Giffen Goods": The 2026 Price Chase
SHORTFeb 3, 2026
Why Silver is Exploding in 2026: The EV & Solar Shock
SHORTFeb 1, 2026
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Why We Built This Tracker
By Austin & Matt
We started tracking COMEX deliveries because the mainstream financial media rarely covers what's actually happening in physical metal markets. COMEX is where futures contracts for gold, silver, copper, and other metals are traded — but here's what most people miss: while most contracts settle in cash, some buyers demand actual physical metal.
Why We Watch Deliveries
Delivery data adds a physical dimension to futures markets. When buyers "stop" contracts for delivery, they are opting for actual metal over cash settlement. Delivery activity relative to inventory levels can provide insight into physical supply/demand dynamics that aren't always visible in price alone.
What We Track
We monitor three dimensions: registered inventory levels, delivery activity (stops), and house vs. customer account breakdown. When delivery demand rises relative to available inventory, it can signal tightening conditions — though COMEX has relief mechanisms including eligible-to-registered conversion and cash settlement (Rule 104) that have historically prevented actual delivery failures.
Sources: Data pulled directly from CME Group official warehouse reports. We verify every data point against the source files linked above. Questions? Hit us up on Twitter/X or catch our weekly metals breakdown on the YouTube channel.
This is commentary based on publicly available data, not financial advice.