Massive Silver Delivery

So, the numbers are in for the month of January 2026 and they don't look good... the cumulative monthly total of COMEX 5000 futures that stand for delivery in February are 9,608. That number of delivered contracts equals 48,040,000 ounces of silver. Luckly, there are 112 million ounces available in registered inventory but next month there could be a similar delivery amount. The total amount of open interest in February is similar to that of January so we could be looking at another 50 million ounce drain of supply. this would leave approximately 13 million ounces in reserve for March which simply isn't enough to service the open interest. Silver is currently trading at 118 dollars US per ounce and it will go higher.

Now, for those who are curious and willing to use their imaginations I will try to predict the future price of silver for the future date of February 28, 2026. Although the week is not finished, as of January 28 2026, silver futures are close to 20% higher. This is even after a margin hike from 9% to 11% yesterday night. We are currently hitting new highs into the night and momentum does not seem to be waining. So, using 20% a week for the next 4 weeks, we have a total possible gain of 107.36% or approximately 2x the curent price of 118, making the future price equal to $236 US per ounce. But, what about the gold silver ratio?

Gold is currently at $5,569.60 US dollars per ounce, and has made big gains in the last two weeks. Two weeks ago it was trading at $4,626.30 US, which is 20% up. If this trend continue for the next 4 weeks we will have a gold price of $8,020 US. This would create a gold silver ratio of 34 - well within historical trading limits.

So, it is possible for silver to double once more if gold keeps climbing and there is a drain on silver vaults at the COMEX, but the true measure of this storm will be the US bond rates over the next month, but that is another article...

King Henry George of Britain