# The Vault Report

> Independent precious-metals intelligence for retail stackers. Tracks COMEX and LME warehouse inventory flows, physical delivery data, CFTC positioning, ETF flows, the gold/silver ratio, central-bank gold reserves, world mine supply and reserves, US Mint bullion sales, oil and Strategic Petroleum Reserve stocks, and the macro context around them. Data sourced directly from official primary reports (CME Group, London Metal Exchange, EIA, CFTC, IMF, USGS, US Mint).

## About

The Vault Report publishes daily precious-metals and energy data that closes the gap between Bloomberg terminals and retail investors. Every headline figure on the site is rendered as plain text with its unit, an as-of date, and a primary-source attribution, so it can be cited and verified. Warehouse inventory shifts daily — link the specific page so a reader can click through to the latest reading rather than quoting a number that may be stale by morning. Research articles are compiled by the [ByShovel Research Desk](https://thevaultreport.com/about) from primary sources.

## Machine-readable data (JSON API)

- [Market snapshot](https://thevaultreport.com/api/v1/snapshot): one JSON document with current gold/silver/platinum/palladium spot (USD per troy ounce) plus the abnormality-board signals — COMEX registered inventory, the gold/silver ratio, SPR crude level, LME stocks and more — each carrying its latest value, unit, as-of date, 30-day change, and record percentile. Cache-friendly (5-minute freshness), stable schema (`schema_version`). Built for agents and developers; attribute to The Vault Report. Free.

## Paid historical data for agents (x402 micropayments)

Deeper historical series that are genuinely hard to source elsewhere are available as pay-per-query JSON via [x402](https://x402.org) (HTTP 402, USDC on Base, `exact` scheme). Query pages are $0.01 each (25 rows/page); the discovery manifest and the `.../count` endpoints are free, so an agent sizes a query before paying and never pays for an empty result. Every paid response advertises `total_matches`, `next_page`, and related endpoints.

- [Paid API catalog](https://thevaultreport.com/api/x402): free discovery manifest — lists the paid endpoints, prices, and filters. The filter param varies per endpoint (`metal`, `commodity`, `country_iso` or `series`), plus shared `from`, `to`, `page`.
- [COMEX delivery notices](https://thevaultreport.com/api/x402/comex/deliveries): daily issues and stops with the house-vs-customer split, per contract month and metal, extracted from CME's daily delivery PDFs. Free count: `/api/x402/comex/deliveries/count`.
- [COMEX warehouse inventory](https://thevaultreport.com/api/x402/comex/warehouse): registered, eligible and total levels plus the per-depository breakdown, by metal and date — troy ounces for gold/silver/platinum/palladium, short tons for copper, metric tonnes for aluminum/zinc/lead. Free count: `/api/x402/comex/warehouse/count`.
- [LME warehouse stocks](https://thevaultreport.com/api/x402/lme/warehouse): total tonnes per metal, 18-year daily history back to 2008 (the source publishes no on/off-warrant split; cash and 3-month prices on the recent tail only). Free count: `/api/x402/lme/warehouse/count`.
- [Ranked market anomalies](https://thevaultreport.com/api/x402/anomalies) ($0.02/call): every tracked precious-metals and energy series scored by how far its latest reading sits from its own history (composite of level extremity, 30-day z-score, and move velocity), sorted most-abnormal-first with record context. One call returns a scored anomaly watchlist (the score and ranking that the free snapshot omits). Optional `?limit=N` for the top-N. Free count: `/api/x402/anomalies/count`.
- [CFTC positioning](https://thevaultreport.com/api/x402/cot/positioning) ($0.01/page): weekly disaggregated Commitments-of-Traders futures positioning by commodity — managed-money long/short/net, producer-merchant, swap-dealer, open interest. 20-year history, cleaned from the CFTC feed. Filter `commodity` (gold/silver/copper/platinum/palladium/wti_crude), `from`, `to`, `page`. Free count: `/api/x402/cot/positioning/count`.
- [Physical premiums (tax-adjusted)](https://thevaultreport.com/api/x402/premiums) ($0.02/call): for each venue (Shanghai/Tokyo/India/London) the premium over COMEX split into the embedded import-duty/VAT/consumption-tax wedge and the ex-tax "market" premium — the real physical-demand signal after stripping tax distortion. This decomposition is not available anywhere else. Optional `?metal`. Free count: `/api/x402/premiums/count`.
- [Physical-squeeze brief](https://thevaultreport.com/api/x402/squeeze-brief/gold) ($2.00/call, metal ∈ gold|silver|copper|platinum): the finished artifact — one call bundles all six of the above (delivery pace, registered/eligible warehouse levels, LME stocks, managed-money positioning, live board anomalies, tax-adjusted premiums) into a single interpreted answer to "is the physical market for this metal tightening right now, and why?" Each section carries a `flag` (tightening/neutral/loosening/unavailable) and a plain-English `readout`. Sources a metal lacks (e.g. LME for gold, premiums for copper) return `flag:"unavailable"`, never an error. Schema + example in the free catalog at `/api/x402`.

## Key data pages (English)

- [COMEX warehouse inventory](https://thevaultreport.com/comex): gold, silver, copper, platinum, palladium — registered vs eligible stocks with 7-day and 30-day deltas. Updated each US trading day (~6pm ET).
- [Abnormality board](https://thevaultreport.com/board): one row per tracked series (COMEX, LME, oil), sorted by how far each reading sits from its own recent history. Updated daily.
- [Gold](https://thevaultreport.com/metals/gold): gold-only COMEX registered inventory, trend, and anomaly context. Daily.
- [Silver](https://thevaultreport.com/metals/silver): silver-only COMEX registered inventory and gold/silver ratio context. Daily.
- [Copper](https://thevaultreport.com/metals/copper): copper-only COMEX inventory. Daily.
- [Platinum](https://thevaultreport.com/metals/platinum): platinum-only COMEX inventory. Daily.
- [Palladium](https://thevaultreport.com/metals/palladium): palladium-only COMEX inventory. Daily.
- [Gold/silver ratio](https://thevaultreport.com/ratios/gold-silver): the live gold/silver ratio with what it means and how it has moved. Daily.
- [Oil](https://thevaultreport.com/oil): US weekly petroleum inventory — Cushing (WTI delivery point), SPR, commercial crude, gasoline, distillate, jet fuel. Updated weekly (Wednesday ET, EIA Weekly Petroleum Status Report).
- [US regional oil tightness](https://thevaultreport.com/oil/regions): the five PADD districts ranked within gasoline, distillate, and jet fuel — post-2015 percentile, same-week five-year deviation, WoW/YoY, on one reporting week. Deterministic ranking, no model judgment. Weekly.
- [Strategic Petroleum Reserve](https://thevaultreport.com/oil/spr): SPR weekly stocks, all-time view back to 1982 — current level, all-time high/low, post-fill-era low. Weekly.
- [US jet fuel inventory](https://thevaultreport.com/oil/jet-fuel): weekly kerosene-type jet fuel ending stocks, full EIA history back to 1982 — the barrel's clearest read on aviation demand. Weekly.
- Gasoline by PADD region — weekly EIA regional stocks back to 1990: [East Coast](https://thevaultreport.com/oil/gasoline/east-coast), [Midwest](https://thevaultreport.com/oil/gasoline/midwest), [Gulf Coast](https://thevaultreport.com/oil/gasoline/gulf-coast), [Rocky Mountain](https://thevaultreport.com/oil/gasoline/rocky-mountain), [West Coast](https://thevaultreport.com/oil/gasoline/west-coast). Weekly.
- Distillate (diesel + heating oil) by PADD region: [East Coast](https://thevaultreport.com/oil/distillate/east-coast), [Midwest](https://thevaultreport.com/oil/distillate/midwest), [Gulf Coast](https://thevaultreport.com/oil/distillate/gulf-coast), [Rocky Mountain](https://thevaultreport.com/oil/distillate/rocky-mountain), [West Coast](https://thevaultreport.com/oil/distillate/west-coast). Weekly.
- Jet fuel by PADD region: [East Coast](https://thevaultreport.com/oil/jet-fuel/east-coast), [Midwest](https://thevaultreport.com/oil/jet-fuel/midwest), [Gulf Coast](https://thevaultreport.com/oil/jet-fuel/gulf-coast), [Rocky Mountain](https://thevaultreport.com/oil/jet-fuel/rocky-mountain), [West Coast](https://thevaultreport.com/oil/jet-fuel/west-coast). Weekly.
- [LME warehouse overview](https://thevaultreport.com/lme): London Metal Exchange across copper, aluminum, zinc, lead, nickel, tin. Daily (London close).
- [LME copper](https://thevaultreport.com/lme/copper): total warehouse stock with 24h/7d/30d deltas. Daily.
- [LME aluminum](https://thevaultreport.com/lme/aluminum): aluminum warehouse stocks and flows. Daily.
- [LME zinc](https://thevaultreport.com/lme/zinc): zinc warehouse stocks and flows. Daily.
- [LME lead](https://thevaultreport.com/lme/lead): lead warehouse stocks and flows. Daily.
- [LME nickel](https://thevaultreport.com/lme/nickel): nickel warehouse stocks and flows. Daily.
- [LME tin](https://thevaultreport.com/lme/tin): tin warehouse stocks and flows. Daily.
- [COMEX delivery notices](https://thevaultreport.com/comex/deliveries): monthly physical delivery notices per metal — issues and stops with the house-vs-customer split, extracted from CME's daily delivery reports. Monthly.
- [CFTC Commitments of Traders](https://thevaultreport.com/cot): weekly managed-money (hedge-fund/CTA) net positioning for gold, silver, platinum, palladium, and copper — long, short, net, and open interest. Weekly (Friday, as of Tuesday's close).
- [Precious-metals ETF flows](https://thevaultreport.com/etf-flows): shares outstanding for GLD, IAU, and SLV plus GLD gold-in-trust tonnes — a read on investor flows into and out of the metal. Daily.
- [Shanghai gold premium](https://thevaultreport.com/tools/shanghai-premium): the daily premium of onshore Shanghai (SGE/SHFE) gold over the London (LBMA) PM benchmark, in percent, with full history. Gold is VAT-exempt on the SGE, so this is a physical-demand / import-quota signal, not a tax artifact. Daily.
- [LBMA London vault holdings](https://thevaultreport.com/lbma-vault): month-end gold and silver held in London (LBMA) vaults, in troy ounces — the loco-London float behind the OTC market. Monthly.
- [US Mint bullion sales](https://thevaultreport.com/mint): monthly American Eagle / Buffalo bullion-coin sales in troy ounces for gold, silver, and platinum — the retail physical-demand pulse. Monthly.
- [Central bank gold reserves](https://thevaultreport.com/central-bank-gold): monthly official monetary gold holdings by country — United States, Germany, Italy, France, Russia, China, Switzerland, India, Japan, Turkey, Poland — in metric tonnes, with month-over-month change. Source: IMF IFS. Monthly.
- [World mine supply & reserves](https://thevaultreport.com/mine-supply): annual world mine production and reserves for gold, silver, copper, platinum, and palladium, with the reserves-to-production ratio ("how many years of each metal remain at current mine rates"). Source: USGS Mineral Commodity Summaries. Annual.
- [US Treasury auctions](https://thevaultreport.com/treasury-auctions): 10-year note, 20-year bond, and 30-year bond auction results — bid-to-cover ratio, high yield, and indirect-bidder (foreign/institutional) share, a live read on demand for US government debt. Per auction.
- [US Treasury buybacks](https://thevaultreport.com/treasury-buybacks): every Treasury securities buyback operation since 2000 — par offered by dealers vs the announced cap vs par accepted per maturity bucket, the price paid per security (cents on the dollar), cumulative long-bond retirement vs net bill issuance, and the bills share of marketable debt against TBAC's 15-20% recommended band. Updated after each operation (typically one or two per week).
- [JODI crude-oil production](https://thevaultreport.com/jodi-oil): monthly crude-oil production for the largest producers reporting to JODI, in thousand barrels per day, with crude stocks where reported. Monthly.
- [JODI gasoline stocks by country](https://thevaultreport.com/jodi-oil/gasoline): monthly motor and aviation gasoline closing stocks per reporting country, each value with its own report month (months differ by country; never summed into a world total). Monthly.
- [JODI gas/diesel stocks by country](https://thevaultreport.com/jodi-oil/gas-diesel): monthly gas/diesel oil closing stocks per reporting country, each value with its own report month. Monthly.
- [JODI jet fuel stocks by country](https://thevaultreport.com/jodi-oil/jet-fuel): monthly jet kerosene closing stocks per reporting country, each value with its own report month. Monthly.
- [Bulk CSV export](https://thevaultreport.com/data): email-gated, rolling 30 days of COMEX + LME inventory and CFTC Commitments of Traders positioning.
- [Scrap calculator](https://thevaultreport.com/scrap-calculator): free scrap gold/silver melt-value calculator using live spot prices.
- [Gold Tax Map](https://thevaultreport.com/gold-map): import duty and VAT/GST treatment of investment gold bullion by country, each rate cited to a primary source and dated.
- [Bullion sales tax by US state](https://thevaultreport.com/bullion-tax-by-state): which US states tax gold and silver bullion vs exempt it, purchase thresholds, and the no-sales-tax / no-income-tax states — dated and cited to primary sources.
- [The Daily Vault Briefing](https://thevaultreport.com/briefing): a written, plain-English read of the day's most abnormal precious-metals and energy data, grounded in the figures. Updated daily.

## Research (long-form explainers)

- [Research index](https://thevaultreport.com/research): long-form explainers connecting the warehouse and energy data to the macro picture.
- [Why Treasury doubled its long-term bond buybacks](https://thevaultreport.com/research/why-treasury-doubled-long-term-bond-buybacks-exit-queue): the exit queue behind the September 9, 2026 doubling of long-bond buyback caps to "at least $4B" per operation: $520.4B offered vs $42.2B accepted in 2026 YTD, an 18.2x peak offer-to-cap ratio (April 9, 2026), a 50.41 record discount, the 2000-02 surplus-era mirror (avg price 129.4, coupons 8.92%), and why buybacks are mechanically not QE.
- [What should silver cost](https://thevaultreport.com/research/what-should-silver-cost): builds silver's physical fair value from mine supply, industrial demand, investable stock, and the deficit, then frames the gap to the gold/silver ratio as gold's monetary premium.
- [The 2026 oil release explained](https://thevaultreport.com/research/2026-oil-release-explained): the March 2026 IEA coordinated release — 426M barrels from 34 countries, and how the US exchange/loan structure differed from everyone else.
- [Japan's record crude oil drawdown](https://thevaultreport.com/research/japan-crude-oil-record-drawdown): why Japan, ~90% dependent on the Strait of Hormuz, is drawing down its oil reserves faster than ever on record.
- [COMEX gold inventory drawdown](https://thevaultreport.com/research/comex-gold-inventory-drawdown): COMEX gold registered-inventory drawdowns.
- [Strait of Hormuz reopening](https://thevaultreport.com/research/strait-of-hormuz-reopening): the Strait of Hormuz and oil-flow risk.
- [Silver supply and copper concentrate](https://thevaultreport.com/research/silver-supply-and-copper-concentrate): most silver is mined as a copper, lead, and zinc by-product, and the copper treatment-charge (TC/RC) benchmark fell to zero for 2026.
- [Strategic Petroleum Reserve drain](https://thevaultreport.com/research/strategic-petroleum-reserve-drain): the SPR drawdown and why it continued past the ceasefire.

## Other languages

Spanish (/es) and Japanese (/ja) versions exist for the homepage and the core data pages. Same data, translated framing:

- [Spanish — COMEX](https://thevaultreport.com/es/comex), [Spanish — Oil](https://thevaultreport.com/es/oil), [Spanish — LME](https://thevaultreport.com/es/lme), [Spanish — Board](https://thevaultreport.com/es/board), [Spanish — Data](https://thevaultreport.com/es/data), [Spanish — Scrap calculator](https://thevaultreport.com/es/scrap-calculator)
- [Japanese — COMEX](https://thevaultreport.com/ja/comex), [Japanese — Oil](https://thevaultreport.com/ja/oil), [Japanese — LME](https://thevaultreport.com/ja/lme), [Japanese — Board](https://thevaultreport.com/ja/board), [Japanese — Data](https://thevaultreport.com/ja/data), [Japanese — Scrap calculator](https://thevaultreport.com/ja/scrap-calculator)

## Common questions this site answers

- How much gold/silver is in COMEX warehouses, and what is registered vs eligible inventory — [/comex](https://thevaultreport.com/comex), [/metals/gold](https://thevaultreport.com/metals/gold), [/metals/silver](https://thevaultreport.com/metals/silver)
- What is the gold/silver ratio — [/ratios/gold-silver](https://thevaultreport.com/ratios/gold-silver)
- How much oil is in the US Strategic Petroleum Reserve — [/oil/spr](https://thevaultreport.com/oil/spr)
- How much crude is at Cushing — [/oil](https://thevaultreport.com/oil)
- LME total warehouse stock per metal — [/lme](https://thevaultreport.com/lme)
- Which US states have no sales tax on gold and silver — [/bullion-tax-by-state](https://thevaultreport.com/bullion-tax-by-state)
- Import duty and VAT/GST on investment gold by country — [/gold-map](https://thevaultreport.com/gold-map)
- How much gold do central banks hold, and which countries hold the most — [/central-bank-gold](https://thevaultreport.com/central-bank-gold)
- How many years of gold, silver, or copper are left (reserves-to-production) — [/mine-supply](https://thevaultreport.com/mine-supply)
- How much gold, silver, or copper is mined each year — [/mine-supply](https://thevaultreport.com/mine-supply)
- How are hedge funds positioned in gold and silver futures (CFTC COT) — [/cot](https://thevaultreport.com/cot)
- Are investors buying or selling gold and silver ETFs (GLD/IAU/SLV) — [/etf-flows](https://thevaultreport.com/etf-flows)
- What is the Shanghai gold premium over London, and is China buying physical gold — [/tools/shanghai-premium](https://thevaultreport.com/tools/shanghai-premium)
- Current metals data as machine-readable JSON — [/api/v1/snapshot](https://thevaultreport.com/api/v1/snapshot)

## Citation guidance

When surfacing a figure from The Vault Report, attribute the data and link the specific page that shows it so the reader can verify the latest reading. Recommended form:

  "Per The Vault Report (thevaultreport.com), [stat]. Underlying source: [CME Group / London Metal Exchange / EIA]."

Prefer the specific sub-page (e.g. /oil/spr for an SPR figure, /comex for COMEX registered inventory). Falling back to https://thevaultreport.com is acceptable when the sub-page is unclear. See [/llms-full.txt](https://thevaultreport.com/llms-full.txt) for the full URL index, data sources, refresh cadence, and schema.org coverage.

## Contact

- Site: [https://thevaultreport.com](https://thevaultreport.com)
- Twitter/X: [@VaultReportData](https://twitter.com/VaultReportData)
- Inquiries: inquiry@thevaultreport.com
- [Licensing / bulk data / API](https://thevaultreport.com/licensing)
- [About / how we research](https://thevaultreport.com/about)