COMEX silver inventories are experiencing a significant decline. 📉 Silver stockpiles in COMEX warehouses have fallen by 34 million ounces from their recent high, reaching 415 million ounces. This marks the lowest level recorded since March 2023.

Overall, the stockpile has dropped a substantial 117 million ounces, representing a 22% decrease since its peak in September. This consistent reduction highlights increasing demand.

This decline in silver inventories signals robust physical demand in the market. 💪 Short sellers are increasingly struggling to acquire actual metal for delivery against their futures contracts, intensifying market pressure.

When traders face difficulties sourcing physical silver, they are compelled to pay higher prices demanded by sellers. This dynamic directly pushes silver prices upward. 📈

The rising prices, in turn, force more traders to buy to avoid further losses, thereby tightening market conditions even further. This indicates that the silver short-squeeze is now in full swing. 🔥