COMEX Gold registered inventory is 15.11M oz as of September 3, 2026, up 6.5% in the past 30 days. It is currently building faster than usual for this series.
Registered metal is what can be delivered against futures contracts today. That is 55.2% of all COMEX Gold in approved vaults; the other 12.27M oz is eligible but has not been warranted for delivery.
At today's price, that is worth ~$67.6B
Registered has built 7 straight reports, the longest run in the 8-mo.
The Desk's read
The build is running hotter than anything in the record: our 90-report pace sits at the 100th percentile of all such stretches, the build-side extreme, meaning registered gold, metal warranted for delivery against futures, is piling in faster than any comparable window since we began tracking. Yet the level tells a calmer story, 15.11M oz as of 2026-09-03, the 36th percentile of the 8-month record, mid-range and hardly full. The pile has built 7 straight reports. Watch the next daily COMEX depository report for whether the run reaches eight.
On the September 3, 2026 figures.
House Alert: A bank or dealer took delivery of 2.2K oz (~$9.8M) today — 22 contracts
Metal that physically entered or left on the latest report.
Open contracts against the metal registered to settle them.
Registered divided by the average daily withdrawal. Metal arriving is not counted, so this is a countdown only while the pile is shrinking.
Contracts stopped over the last 30 days.
Inventory Trend
Registered metal in vaults, last 8 months
Physical Flow vs Book Change
Metal moving in and out of the vault vs how the records changed
Metal Moving
Book Changes
Why these two numbers differ
Metal moving = what physically entered or left the vault. Book changes = warrants being reclassified between registered and eligible. The two numbers differ when records catch up to physical activity on different days.
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What this means
COMEX gold registered inventory is the deliverable quantity of gold bars in COMEX-approved vaults certified for futures delivery. Traders watch this number as the primary squeeze-risk indicator: a sharp drawdown in registered stocks relative to open interest is the classic setup for a delivery squeeze.
Inventory chart
View the 30-day chart with daily data points: COMEX Gold inventory chart →
Live dashboard
The interactive COMEX dashboard shows registered and eligible inventory by warehouse, delivery flows, and Commitment of Traders positioning: Open COMEX dashboard →
Related metals
Glossary
- Registered inventory
- Metal in COMEX-approved vaults that has been certified (warranted) for delivery against a futures contract. This is the headline deliverable number.
- Eligible inventory
- Metal meeting COMEX purity/bar standards stored in approved vaults but not yet warranted. Can be converted to registered with paperwork.
- Delivery squeeze
- When open interest (futures contracts outstanding) approaches or exceeds registered inventory, holders of longs can force physical delivery, driving sharp price spikes.
- Stop/issue
- A stop is taking delivery of metal; an issue is making delivery. The daily stop/issue report tracks who is delivering and receiving.
Quick answers
- When did COMEX registered Gold last rise above 15M oz?
- COMEX registered Gold inventory rose above 15M oz on September 1, 2026 and stands at 15.11M oz as of September 3, 2026.
Common questions
- What is the current COMEX registered Gold inventory?
- COMEX registered Gold inventory stood at 15.11M oz as of September 3, 2026, per the daily COMEX warehouse report. That is 55.2% of the 27.38M oz held in COMEX-approved vaults; the rest is eligible stock not yet warranted. Registered stock carries a warrant and is deliverable against COMEX futures, so it is the supply cushion traders watch.
- What is the gold/silver ratio?
- The gold/silver ratio is the price of one ounce of gold divided by the price of one ounce of silver — it tells you how many ounces of silver it takes to buy one ounce of gold. A higher ratio means silver is relatively cheaper to gold; a lower ratio means the opposite. Stackers watch it as a relative-value gauge between the two metals.
- What is the difference between registered and eligible inventory?
- Registered metal carries a warehouse warrant and can be delivered against a futures contract immediately. Eligible metal meets exchange specs and sits in the same approved vaults but has no active warrant, so it is not deliverable until its owner registers it. Registered is deliverable now; eligible is on the sidelines.
- How many grams are in a troy ounce?
- One troy ounce equals 31.1035 grams, slightly heavier than a regular (avoirdupois) ounce of 28.35 grams. Precious metals are always quoted in troy ounces, so COMEX inventory and spot prices on this site use troy ounces.
- What do contango and backwardation mean in COMEX futures?
- Contango means metal for delivery next month costs more than metal in the front month, the normal state, because storing and financing metal has a cost. Backwardation is the reverse: the front month costs more than the next month out, which usually signals near-term tightness in physical supply.
Storage and verification gear
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- Coin capsules : Airtight capsules to protect bullion coins and rounds.
- Digital scales with 0.01 g resolution : The first check on any coin or bar is its weight.
- Gold & silver test kits : Verify a coin or bar is real metal, not a plated fake, before you trust it.
Data from official COMEX warehouse reports (CME Group), updated each business day.