COMEX Silver

COMEX Silver registered inventory is 96.24M oz as of July 27, 2026, up 13.8% 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 29.0% of all COMEX Silver in approved vaults; the other 235.23M oz is eligible but has not been warranted for delivery.

●Registered inventory sits within its normal range.

What this means

COMEX silver registered inventory reflects deliverable silver in approved warehouses. Silver has the largest retail-participation base of any COMEX metal, making its registered stocks especially sensitive to retail-driven delivery demands and ETF rebalancing.

Inventory chart

View the 30-day chart with daily data points: COMEX Silver 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 Silver last rise above 95M oz?

COMEX registered Silver inventory rose above 95M oz on July 14, 2026 and stands at 96.24M oz as of July 27, 2026.

When did COMEX registered Silver last rise above 90M oz?

COMEX registered Silver inventory rose above 90M oz on June 29, 2026 and stands at 96.24M oz as of July 27, 2026.

When did COMEX registered Silver last fall below 100M oz?

COMEX registered Silver inventory fell below 100M oz on February 10, 2026 and stands at 96.24M oz as of July 27, 2026.

Common questions

What is the current COMEX registered Silver inventory?

COMEX registered Silver inventory stood at 96.24M oz as of July 27, 2026, per the daily COMEX warehouse report. That is 29.0% of the 331.47M 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.

Data from official COMEX warehouse reports (CME Group), updated each business day.