Physical #PreciousMetals trader | Derivatives | 102 countries | Bulls make money, bears make money, pigs get slaughtered | See the 🌎 through Metals

Singapore
Joined February 2018
🚨COMEX Silver: 16-Month Accumulation Erased ⚠️#comex silver inventory hit the lowest level since December 2024, erasing the 2025 build up. #preciousmetals #commodities #bullion #silversqueeze #silver
2
8
4
63
101,857
πŸ“‰ Gold contango keeps tightening COMEX DEC26 EFP: $19.45 Vs $20.2 on Friday Every tenor narrowed today
7
528
Does a crowded $ long boost gold? When the speculative USD long hits 52W high, gold's Av return after: πŸ“‰3M: +2.0% (vs+2.8% normal) πŸ“‰Very stretched (Z β‰₯ 2): 0% πŸ“ˆ6M, very stretched: +7.5% (up 79% of the time) No immediate boost. The payoff comes when the longs unwind
1
486
πŸ‡¨πŸ‡³ Gold dominated Chinese jewellery retailer revenue in H1 2026, capturing 60% of total sales value! πŸ”Ή Gold Jewellery: 60% πŸ”Ή Silver Jewellery: 13% πŸ”Ή Other Jewellery (gem, pearl, etc.): 10% πŸ”Ή Diamond: 8% πŸ”Ή Gold Investment Products: 6% πŸ”Ή Platinum: 3%
1
9
738
πŸ‡¨πŸ‡³ Premiums continue to consolidate, with gold hovering flat to LBMA πŸ“Š SGE vs. LBMA Spreads & Pricing: β€’ Gold (Au(T+D)): $4,186.06 / $4,185.52 | Spread: +0.01% (Β₯899.29/g) β€’ Silver (Ag(T+D)): $65.10 / $57.79 | Spread: +12.65% (Β₯13,984/kg)
1
1
5
721
Weekend crypto/perp proxies signaling potential soft opens across precious metals: β€’ Gold: $4,148.1 (-0.50% / -$20.8) β€’ Silver: $56.644 (-0.71% / -$0.403) Meanwhile, CME 24/7 futures showing $4,170.3 for Gold and $56.75 for Silver. πŸ“‰βš‘οΈWatching liquidity into the Asia open
6
636
πŸ’΅ Speculators are piling back into the $ πŸ“ˆNet long USD vs 8 IMM futures: +$44.6B +$9.3bn in 1wk, +$38.7bn in 4 wks πŸ”₯ 98 %tile 1Y | 99th 3Y | Zscore +2.2β†’extremely stretched ⚑Leveraged funds: +$15.2B 🏦 Asset managers: βˆ’$3.1B Fast money is long the $. Real money isn't
2
5
632
COT #preciousmetals extremes 52W vs 3Y: πŸ’ Platinum, 3Y: Producer/Merchant net short -7,654 ct, the smallest in 3 years. πŸͺ™ Silver: Managed Money COT Index is 5.0 on 52W but 25.0 on 3Y.
1
1
1
8
871
Palladium, 52W: MM -10,699 ct and Specs -8,078 ct are the lowest in 52 wk. Commercials are net long +7,095, the highest in 52 wk. The 3Y low for MM is -16,283, so it isn’t extreme on the longer view.
2
317
Silver COT (13 Oct): Managed Money’s net long hit an 8 months low β€’Managed Money: -1,909 ct to +5,619, lowest since 10 Feb. -58% since 22 Sep. β€’Other Reportables: +1,387 ct to +17,012, highest since 17 Feb. Total Specs barely moved (-522 ct): MM sold, Other Reportables bought
1
4
731
Silver: the speculative long is rotating, not leaving MM's net long: +5,619 contracts, down 58% from 22 Sep. Its 52-week COT Index is 5.0. The other side of the trade: β€’ Other Reportables added 1,387 contracts to +17,012, their highest since 17 Feb
2
358
COMEX silver YTD: JPMorgan vs Asahi πŸ”» JPMorgan: 188.25 β†’ 125.51 Moz (βˆ’62.74 Moz, βˆ’33%) Registered βˆ’58% (16.30 β†’ 6.87 Moz) πŸ”Ί Asahi: 37.17 β†’ 52.29 Moz (+15.11 Moz, +41%) Received 39.76 Moz Β· withdrawn 29.13 Moz Registered 31.87 β†’ 39.20 Moz
1
3
1
14
1,144
JPM alone accounts for 54% of the 116 Moz COMEX has lost this year. Its share of COMEX silver is down from 41.9% to 37.6%. Asahi’s has almost doubled, from 8.3% to 15.7%. About half of JPM’s drain is SLV: its New York holding fell 30.0 Moz YTD (97.17 β†’ 67.17 Moz).
5
341
Weekend metals check: what 24/7 markets are pricing ahead of the Monday open πŸ₯‡ Gold 4,159.5 β†’ -0.22% πŸ₯ˆ Silver 56.83 β†’ -0.37% βšͺ Platinum 1,633 β†’ -0.08% πŸ”˜ Palladium 1,115 β†’ -0.10% Weekend positioning leans slightly lower across the complex, and silver is the weakest.
2
13
925
Slight consolidation in Shanghai physical premiums on Friday 🟑 #Gold (SGE vs LBMA): +0.09% ($4,183.34 vs $4,179.78 spot) β€” cooling back toward the 5D avg (+0.17%). βšͺ #Silver (SGE vs LBMA): +12.27% ($64.85 vs $57.76 spot) β€” ticking down off the 30D high (+13.10%).
6
741
πŸ“Š London Silver ETFs LBMA β€’ Total Silver Held: 21,731.6 tons (698.69 Moz) β€’ WoW Change: +49 tons πŸ“ˆ β€’ Silver Price: -6% πŸ“‰ πŸ” The entire move is driven almost entirely by $SLV ⚠️Excluding SLV, the rest of the London ETFs actually LOST 27.2 tons
1
12
757
#silver EFP spreads continue to contract Current DEC26 EFP Spread: 0.14(Down from previous day 17.5’) ⚠️As spot prices rally, physical London liquidity or OTC spot buying outpaces COMEX buying, pulling the EFP spread lower,indicating relative demand for spot/physical metal
2
14
833
Gold grinds higher while IV continues to compress, clear sign there is no chase for speculative call upside right now πŸ₯‡No heat in EFP either, with the SPOT-DEC26 basis essentially flat day-over-day at $20.6
9
682
πŸ‡¨πŸ‡³ Shanghai Futures Exchange silver inventory recorded a sharp drawdown over the past week, falling -79.5 tons (-2.56M oz) to 1,402.97 tons ⚠️Largest weekly outflow since June 15, 2026. πŸ“‰ Daily : -12.34 T πŸ“‰ Weekly : -79.5 T πŸ“¦ Total On-Exchange Stocks: 1,402.97 T
2
19
905