The thinnest supply cushion on the board is LME aluminum stocks at 244,525 mt, the 0th percentile of its record and still draining.
That is the least room anywhere on the board to absorb a supply shock. Elsewhere, 6 other buffers sit near record highs, amply stocked.
Computed 10:03 AM ET
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.
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
Copper sitting in COMEX warehouses. Low is the thinnest buffer for industrial buyers if demand outruns supply.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
The government's emergency crude reserve. Low leaves the least room to cushion a supply shock.
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
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.
Metal 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 kerosene-type jet fuel, the airlines' fuel supply. A draw means flying is outpacing refinery output.
Crude held by US refiners and traders. Low is a thinner commercial buffer.
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
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.
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Physical gold the fund holds in trust. Falling means investors are redeeming.
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
Share of COMEX warehouse stock that's deliverable rather than just stored. High is reassuring; low leaves less ready to deliver.
US stocks of diesel and heating oil. Low is a thinner cushion for trucking, farming, and winter heat.
Crude at the Cushing hub, where US oil futures settle. Low marks a tight delivery point.
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
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.
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
How heavily speculators are betting, net. Far above zero is a crowded long, far below a crowded short, and either extreme is stretched positioning.
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
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 LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
US stocks of gasoline at the pump's source. Low is a thinner cushion heading into driving season.
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
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.
| Series | Level | Δ1d | Δ30d | Percentile of record | Record | As of |
|---|---|---|---|---|---|---|
|
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.
|
55.2%
RATIO
|
+0.0% | +5.1% |
98th
|
8-mo high
Amply stocked and still building, a deep cushion against a supply shock.
|
Sep 3 |
|
COMEX copper stocks
Copper sitting in COMEX warehouses. Low is the thinnest buffer for industrial buyers if demand outruns supply.
|
766,795 short tons
QTY
|
+0.1% | +6.5% |
100th
steady
|
8-mo high
Amply stocked and still building, a deep cushion against a supply shock.
|
Sep 3 |
|
LME lead stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
388,450 mt
QTY
|
-0.9% | -8.5% |
99th
falling, but easing
|
99th percentile of 19-yr record
Amply stocked, a deep cushion against a supply shock.
|
Sep 7 |
|
COMEX registered platinum
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
191K oz
QTY
|
+0.0% | -0.9% |
5th
steady
|
8-mo low
A thin cushion, still draining, with little room to absorb a supply shock.
|
Sep 3 |
|
COMEX platinum coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
5.6%
RATIO
|
+0.0% | -18.7% |
2nd
|
8-mo low
A thin cushion, still draining, with little room to absorb a supply shock.
|
Sep 3 |
|
COMEX silver coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
19.0%
RATIO
|
-0.2% | +6.9% |
99th
|
8-mo high
Amply stocked and still building, a deep cushion against a supply shock.
|
Sep 3 |
|
Midwest jet fuel stocks (PADD 2)
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
|
8.2 MM bbl
QTY
|
+1.8%wk | +12.3% |
85th
rising faster
|
highest since Jan 2026 | Aug 28 |
|
West Coast distillate stocks (PADD 5)
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
|
9.9 MM bbl
QTY
|
-6.7%wk | -12.5% |
3rd
falling faster
|
lowest since May 2025 | Aug 28 |
|
SPR crude
The government's emergency crude reserve. Low leaves the least room to cushion a supply shock.
|
286.6 MM bbl
QTY
|
-1.1%wk | -6.8% |
1st
falling
|
lowest since Nov 1982
A thin cushion, still draining, with little room to absorb a supply shock.
|
Aug 28 |
|
East Coast distillate stocks (PADD 1)
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
|
19.3 MM bbl
QTY
|
-8.0%wk | -12.8% |
0th
falling faster
|
lowest in the 37-yr record | Aug 28 |
|
Tokyo retail gold (Tanaka)
What Japanese buyers pay for retail gold, in yen per gram. High means gold is dear in yen.
|
¥24,178/g
PRICE
|
-1.7% | +1.0% |
99th
falling faster
|
99th percentile of 38-yr record
Historically high versus its own record.
|
Sep 8 |
|
LME aluminum stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
244,525 mt
QTY
|
+0.0% | -4.6% |
0th
steady
|
0th percentile of 19-yr record
A thin cushion, still draining, with little room to absorb a supply shock.
|
Sep 7 |
|
COMEX registered gold
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
15.11M oz
QTY
|
+0.0% | +6.4% |
36th
steady
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
US jet fuel stocks
US stocks of kerosene-type jet fuel, the airlines' fuel supply. A draw means flying is outpacing refinery output.
|
45.9 MM bbl
QTY
|
+0.4%wk | -2.0% |
97th
steady
|
97th percentile of 44-yr record | Aug 28 |
|
US commercial crude
Crude held by US refiners and traders. Low is a thinner commercial buffer.
|
424.5 MM bbl
QTY
|
-1.0%wk | +4.9% |
80th
falling faster
|
44-yr record
Cushion within its normal range.
|
Aug 28 |
| COMEX total gold stocks |
27.38M oz
QTY
|
+0.0% | +1.2% |
29th
steady
|
8-mo record | Sep 3 |
|
West Coast jet fuel stocks (PADD 5)
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
|
11.4 MM bbl
QTY
|
+2.3%wk | -1.3% |
97th
rising, but easing
|
97th percentile of 37-yr record | Aug 28 |
|
LME zinc stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
113,100 mt
QTY
|
+0.8% | +16.5% |
21st
rising, but easing
|
19-yr record
Cushion within its normal range.
|
Sep 7 |
|
GLD shares outstanding
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
|
368.8M shares
QTY
|
-0.1% | +3.8% |
79th
steady
|
22-yr record
Investors are adding metal to the fund.
|
Sep 4 |
|
West Coast gasoline stocks (PADD 5)
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
|
27.2 MM bbl
QTY
|
-1.5%wk | -5.3% |
14th
falling
|
37-yr record | Aug 28 |
|
Midwest gasoline stocks (PADD 2)
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
|
43.4 MM bbl
QTY
|
+0.3%wk | -2.1% |
1st
steady
|
1st percentile of 37-yr record | Aug 28 |
|
COMEX gold coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
36.4%
RATIO
|
+0.0% | -4.8% |
18th
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
GLD gold in trust
Physical gold the fund holds in trust. Falling means investors are redeeming.
|
1,052.1 tonnes
QTY
|
-0.1% | +3.7% |
74th
steady
|
22-yr record
Investors are adding metal to the fund.
|
Sep 4 |
|
Gulf Coast distillate stocks (PADD 3)
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
|
42.7 MM bbl
QTY
|
+7.9%wk | -6.6% |
76th
rising faster
|
37-yr record | Aug 28 |
|
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.
|
72,882 contracts
QTY
|
-4.4%wk | +12.1% |
93rd
|
93rd percentile of 20-yr record
Crowded, one-sided positioning at an extreme of its record.
|
Sep 1 |
|
East Coast jet fuel stocks (PADD 1)
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
|
11.2 MM bbl
QTY
|
+2.5%wk | -11.7% |
76th
rising faster
|
37-yr record | Aug 28 |
|
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.
|
29.3%
RATIO
|
-0.1% | -1.8% |
87th
|
8-mo record
Amply stocked, a deep cushion against a supply shock.
|
Sep 3 |
| COMEX total silver stocks |
338.70M oz
QTY
|
-0.1% | +1.4% |
69th
steady
|
8-mo record | Sep 3 |
|
US diesel/distillate stocks
US stocks of diesel and heating oil. Low is a thinner cushion for trucking, farming, and winter heat.
|
104.2 MM bbl
QTY
|
+0.8%wk | -5.8% |
11th
rising faster
|
44-yr record
A thin cushion, still draining, with little room to absorb a supply shock.
|
Aug 28 |
|
Cushing crude
Crude at the Cushing hub, where US oil futures settle. Low marks a tight delivery point.
|
22.5 MM bbl
QTY
|
+0.4%wk | +21.0% |
21st
steady
|
22-yr record
Cushion within its normal range.
|
Aug 28 |
|
SLV shares outstanding
Roughly how much metal the fund holds for investors. Falling means investors are pulling money out.
|
545.9M shares
QTY
|
+0.1% | +1.4% |
88th
steady
|
20-yr record
Investors are adding metal to the fund.
|
Sep 4 |
|
COMEX copper coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
13.5%
RATIO
|
+0.1% | +6.6% |
81st
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
COMEX registered silver
Metal locked in COMEX vaults and pledged as deliverable against futures. Low is the thinnest cushion if many holders demand metal at once.
|
99.39M oz
QTY
|
-0.2% | -0.4% |
77th
steady
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
East Coast gasoline stocks (PADD 1)
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
|
52.6 MM bbl
QTY
|
+0.6%wk | -0.6% |
13th
rising faster
|
37-yr record | Aug 28 |
|
LBMA London vault gold
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
|
309.68M oz
QTY
|
+1.0% | +1.0% |
93rd
rising faster
|
highest since Apr 2022
Amply stocked and still building, a deep cushion against a supply shock.
|
Aug 1 |
|
LME nickel stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
270,744 mt
QTY
|
-0.0% | +2.4% |
74th
steady
|
19-yr record
Cushion within its normal range.
|
Sep 7 |
|
COMEX palladium coverage
Physical metal backing each unit of paper claims. High is reassuring (more metal behind each claim); low is thin backing.
|
12.0%
RATIO
|
+0.0% | +10.6% |
74th
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
Gulf Coast jet fuel stocks (PADD 3)
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
|
14.3 MM bbl
QTY
|
-3.5%wk | -1.7% |
69th
falling, but easing
|
37-yr record | Aug 28 |
|
Rocky Mountain distillate stocks (PADD 4)
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
|
3.5 MM bbl
QTY
|
-3.9%wk | +5.9% |
66th
falling faster
|
37-yr record | Aug 28 |
| US Mint gold sales |
10K oz
QTY
|
+400.0% | +400.0% |
12th
|
40-yr record | Jun 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.
|
12,598 contracts
QTY
|
-10.5%wk | +37.2% |
33rd
|
20-yr record
Speculative positioning near neutral.
|
Sep 1 |
|
Rocky Mountain jet fuel stocks (PADD 4)
One of five regional cuts of US jet fuel stocks, the district's aviation fuel cushion.
|
0.7 MM bbl
QTY
|
+3.0%wk | +5.7% |
68th
rising faster
|
37-yr record | Aug 28 |
|
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.
|
136,771 contracts
QTY
|
-5.5%wk | +14.2% |
66th
|
20-yr record
Speculative positioning near neutral.
|
Sep 1 |
|
LME copper stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
236,475 mt
QTY
|
+1.0% | +6.1% |
47th
rising faster
|
19-yr record
Cushion within its normal range.
|
Sep 7 |
|
Gulf Coast gasoline stocks (PADD 3)
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
|
76.2 MM bbl
QTY
|
-1.3%wk | -3.6% |
67th
falling, but easing
|
37-yr record | Aug 28 |
|
LME tin stocks
Metal in LME warehouses worldwide, the buffer for industrial users. Low is the thinnest cushion against a supply squeeze.
|
5,415 mt
QTY
|
-1.0% | -4.8% |
46th
falling faster
|
19-yr record
Cushion within its normal range.
|
Sep 7 |
|
US gasoline stocks
US stocks of gasoline at the pump's source. Low is a thinner cushion heading into driving season.
|
205.7 MM bbl
QTY
|
-0.6%wk | -2.7% |
24th
falling, but easing
|
lowest since Nov 2025
Cushion within its normal range.
|
Aug 28 |
| US Mint silver sales |
260K oz
QTY
|
— | — |
17th
|
40-yr record | Jun 1 |
|
COMEX registered palladium
Metal 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% | -1.8% |
46th
steady
|
8-mo record
Cushion within its normal range.
|
Sep 3 |
|
Midwest distillate stocks (PADD 2)
One of five regional cuts of US distillate stocks, the local diesel and heating-fuel cushion.
|
28.8 MM bbl
QTY
|
+0.8%wk | +2.2% |
34th
rising
|
37-yr record | Aug 28 |
|
Rocky Mountain gasoline stocks (PADD 4)
One of five regional cuts of US gasoline stocks. A thin district leans on pipelines and imports to refill.
|
6.4 MM bbl
QTY
|
-2.4%wk | +0.3% |
35th
falling faster
|
37-yr record | Aug 28 |
|
LBMA London vault silver
Metal in London vaults backing the global spot market. Low is less physical float behind the market.
|
914.08M oz
QTY
|
+0.8% | +0.8% |
39th
rising faster
|
10-yr record
Cushion within its normal range.
|
Aug 1 |
|
Gold/silver ratio
How many ounces of silver buy one ounce of gold. High means silver is cheap relative to gold.
|
66.5
RATIO
|
+0.3% | — | n/a | Sep 8 | |
|
Gold intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
-1.4%
RATIO
|
+1.0pp | — | n/a | Sep 8 | |
|
Platinum intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
+1.4%
RATIO
|
-0.1pp | — | n/a | Sep 8 | |
|
Silver intl premium
How far the local price sits above or below COMEX. A wide gap signals a tighter local market or local taxes.
|
+0.2%
RATIO
|
+0.8pp | — | n/a | Sep 8 |
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)