The Vault Board
Every series we track, sorted by how far from normal it sits. Each number carries its percentile of the full record and a lowest/highest-since anchor. All deterministic, straight from the source data.
Computed 11:38 PM ET
The thinnest supply cushion on the board right now is LME aluminum stocks (272,775 mt, 0th percentile of its record) and still draining — the least room to absorb a supply shock. Meanwhile 6 other buffers sit near record highs, amply stocked.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
The government's emergency crude reserve. Low leaves the least room to cushion a supply shock.
Copper sitting in COMEX warehouses. Low is the thinnest buffer for industrial buyers if demand outruns supply.
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
What Japanese buyers pay for retail gold, in yen per gram. High means gold is dear in yen.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
Crude at the Cushing hub, where US oil futures settle. Low marks a tight delivery point.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
US stocks of diesel and heating oil. Low is a thinner cushion for trucking, farming, and winter heat.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
Crude held by US refiners and traders. Low is a thinner commercial buffer.
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
Physical gold the fund holds in trust. Falling means investors are redeeming.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
US stocks of gasoline at the pump's source. Low is a thinner cushion heading into driving season.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
How many ounces of silver buy one ounce of gold. High means silver is cheap relative to gold.
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
| Series | Level | Δ1d | Δ30d | Percentile of record | Record | As of |
|---|---|---|---|---|---|---|
|
LME lead stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
448,850 mt
QTY
|
-0.1% | +49.8% |
100th
steady
|
100th percentile of 19-yr record
Amply stocked and building — a deep supply cushion.
|
Jul 24 |
|
SPR crude
The government's emergency crude reserve. Low leaves the least room to cushion a supply shock.
|
311.4 MM bbl
QTY
|
-1.6%wk | -8.5% |
1st
falling faster
|
lowest since Mar 1983
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 17 |
|
COMEX copper stocks
Copper sitting in COMEX warehouses. Low is the thinnest buffer for industrial buyers if demand outruns supply.
|
706,328 short tons
QTY
|
+0.3% | +7.7% |
100th
steady
|
6-mo high
Amply stocked and building — a deep supply cushion.
|
Jul 23 |
| COMEX total gold stocks |
27.02M oz
QTY
|
+0.0% | -2.8% |
2nd
steady
|
6-mo low | Jul 23 |
|
COMEX registered gold
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
14.76M oz
QTY
|
+0.1% | -1.7% |
2nd
steady
|
6-mo low
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 23 |
|
COMEX silver deliverable share
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
|
29.1%
RATIO
|
-0.3% | +7.4% |
95th
|
6-mo high
Amply stocked and building — a deep supply cushion.
|
Jul 23 |
| China gold reserves |
2,321.6 tonnes
QTY
|
+0.3% | +0.3% |
100th
steady
|
highest in the 11-yr record | Apr 1 |
|
COMEX gold coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
38.5%
RATIO
|
+0.1% | -9.7% |
10th
|
6-mo record
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 23 |
|
LME aluminum stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
272,775 mt
QTY
|
-0.9% | -12.1% |
0th
falling faster
|
lowest since Aug 2022
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 24 |
|
Tokyo retail gold (Tanaka)
What Japanese buyers pay for retail gold, in yen per gram. High means gold is dear in yen.
|
¥23,655/g
PRICE
|
-1.6% | +0.3% |
99th
falling faster
|
99th percentile of 38-yr record
Historically high versus its own record.
|
Jul 24 |
| Germany gold reserves |
3,349.5 tonnes
QTY
|
-0.0% | -0.0% |
0th
steady
|
lowest in the 26-yr record | Apr 1 |
|
LME tin stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
7,085 mt
QTY
|
-1.9% | -19.7% |
57th
falling
|
19-yr record
Cushion within its normal range.
|
Jul 24 |
|
COMEX silver coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
18.1%
RATIO
|
-0.1% | +12.8% |
94th
|
6-mo high
Amply stocked and building — a deep supply cushion.
|
Jul 23 |
|
COMEX registered silver
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
96.24M oz
QTY
|
-0.1% | +10.1% |
78th
steady
|
6-mo record
Cushion within its normal range.
|
Jul 23 |
|
Cushing crude
Crude at the Cushing hub, where US oil futures settle. Low marks a tight delivery point.
|
19.4 MM bbl
QTY
|
-3.4%wk | -3.3% |
12th
falling faster
|
22-yr record
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 17 |
|
LME zinc stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
105,800 mt
QTY
|
-0.3% | -13.9% |
18th
steady
|
19-yr record
Cushion within its normal range.
|
Jul 24 |
|
COMEX registered platinum
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
198K oz
QTY
|
+0.0% | -6.6% |
10th
steady
|
6-mo record
Thin cushion and still draining — little room to absorb a supply shock.
|
Jul 23 |
|
LME copper stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
276,775 mt
QTY
|
-1.7% | -19.1% |
62nd
falling faster
|
19-yr record
Cushion within its normal range.
|
Jul 24 |
|
SLV shares outstanding
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
|
534.9M shares
QTY
|
-0.1% | +0.9% |
86th
steady
|
20-yr record
Investors are adding metal to the fund.
|
Jul 24 |
|
US diesel/distillate stocks
US stocks of diesel and heating oil. Low is a thinner cushion for trucking, farming, and winter heat.
|
109.6 MM bbl
QTY
|
+1.3%wk | +6.3% |
17th
rising, but easing
|
44-yr record
Cushion within its normal range.
|
Jul 17 |
|
LME nickel stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
267,342 mt
QTY
|
-0.4% | -2.9% |
73rd
steady
|
19-yr record
Cushion within its normal range.
|
Jul 24 |
|
Managed-money net copper (COT)
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
|
71,515 contracts
QTY
|
+18.8%wk | +3.6% |
94th
|
94th percentile of 20-yr record
Crowded, one-sided positioning — stretched to an extreme.
|
Jul 21 |
|
COMEX gold deliverable share
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
|
54.6%
RATIO
|
+0.0% | +1.2% |
90th
|
6-mo record
Amply stocked and building — a deep supply cushion.
|
Jul 23 |
|
US commercial crude
Crude held by US refiners and traders. Low is a thinner commercial buffer.
|
411.7 MM bbl
QTY
|
+0.5%wk | -1.6% |
75th
steady
|
44-yr record
Cushion within its normal range.
|
Jul 17 |
| India gold reserves |
880.5 tonnes
QTY
|
+0.0% | +0.0% |
100th
steady
|
highest in the 19-yr record | Apr 1 |
| Poland gold reserves |
595.7 tonnes
QTY
|
+2.4% | +2.4% |
100th
rising faster
|
highest in the 26-yr record | Apr 1 |
|
GLD shares outstanding
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
|
353.7M shares
QTY
|
+0.1% | -0.8% |
71st
steady
|
22-yr record
Investors are pulling metal out of the fund.
|
Jul 23 |
|
GLD gold in trust
Physical gold the fund holds in trust. Falling means investors are redeeming.
|
1,009.3 tonnes
QTY
|
+0.1% | -0.8% |
68th
steady
|
22-yr record
Investors are pulling metal out of the fund.
|
Jul 23 |
| Japan gold reserves |
846.0 tonnes
QTY
|
+0.0% | +0.0% |
100th
steady
|
100th percentile of 26-yr record | May 1 |
| COMEX total silver stocks |
330.90M oz
QTY
|
+0.2% | +2.5% |
57th
steady
|
6-mo record | Jul 23 |
| Switzerland gold reserves |
1,039.9 tonnes
QTY
|
+0.0% | +0.0% |
7th
steady
|
7th percentile of 26-yr record | Apr 1 |
| US Mint gold sales |
8K oz
QTY
|
+1600.0% | +1600.0% |
14th
|
40-yr record | Jun 1 |
| Russia gold reserves |
2,298.5 tonnes
QTY
|
-0.3% | -0.3% |
80th
steady
|
21-yr record | Apr 1 |
|
COMEX copper coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
13.6%
RATIO
|
-0.2% | +4.5% |
85th
|
6-mo record
Amply stocked and building — a deep supply cushion.
|
Jul 23 |
| Turkey gold reserves |
729.9 tonnes
QTY
|
-0.3% | -0.3% |
89th
steady
|
26-yr record | May 1 |
|
Managed-money net silver (COT)
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
|
11,282 contracts
QTY
|
-1.9%wk | -12.4% |
29th
|
20-yr record
Speculative positioning near neutral.
|
Jul 21 |
|
COMEX platinum coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
7.4%
RATIO
|
+0.0% | +0.4% |
34th
|
6-mo record
Cushion within its normal range.
|
Jul 23 |
|
Managed-money net gold (COT)
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
|
124,831 contracts
QTY
|
+3.4%wk | +9.8% |
60th
|
highest since Jan 2026
Speculative positioning near neutral.
|
Jul 21 |
|
LBMA London vault gold
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
|
304.29M oz
QTY
|
+0.8% | +0.8% |
84th
rising faster
|
highest since Aug 2022
Cushion within its normal range.
|
Jun 1 |
|
COMEX registered palladium
Gold locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
202K oz
QTY
|
+0.0% | +0.1% |
64th
steady
|
6-mo record
Cushion within its normal range.
|
Jul 23 |
| US Mint silver sales |
260K oz
QTY
|
— | — |
17th
|
40-yr record | Jun 1 |
|
US gasoline stocks
US stocks of gasoline at the pump's source. Low is a thinner cushion heading into driving season.
|
211.3 MM bbl
QTY
|
+0.4%wk | -1.4% |
38th
steady
|
37-yr record
Cushion within its normal range.
|
Jul 17 |
|
COMEX palladium coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
10.9%
RATIO
|
+0.0% | -6.9% |
47th
|
6-mo record
Cushion within its normal range.
|
Jul 23 |
| United States gold reserves |
8,133.5 tonnes
QTY
|
+0.0% | +0.0% |
78th
steady
|
26-yr record | May 1 |
| France gold reserves |
2,437.0 tonnes
QTY
|
+0.0% | +0.0% |
65th
steady
|
26-yr record | Apr 1 |
|
LBMA London vault silver
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
|
902.84M oz
QTY
|
+1.7% | +1.7% |
38th
rising faster
|
10-yr record
Cushion within its normal range.
|
Jun 1 |
| Italy gold reserves |
2,451.8 tonnes
QTY
|
+0.0% | +0.0% |
44th
steady
|
26-yr record | Apr 1 |
|
Gold/silver ratio
How many ounces of silver buy one ounce of gold. High means silver is cheap relative to gold.
|
69.3
RATIO
|
-0.9% | — | n/a | Jul 24 | |
|
Gold intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
-0.7%
RATIO
|
-0.7pp | — | n/a | Jul 24 | |
|
Palladium intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
+0.8%
RATIO
|
+0.3pp | — | n/a | Jul 24 | |
|
Platinum intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
+2.8%
RATIO
|
+0.0pp | — | n/a | Jul 25 | |
|
Silver intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
+6.6%
RATIO
|
-1.0pp | — | n/a | Jul 24 |
Weekly series (EIA oil) show week-over-week in the Δ1d column. Percentile is the share of the full record at or below today's level; "n/a" means the stored history is too shallow to rank honestly.
Sorted by most abnormal (default)