COFRE Alert: 70 Tons of Silver Somem in One Day – Comex Silent Drainage

[Igor Pereira]

While the price on the screen fluctuates, the true story is being written in the cargo books of COMEX warehouses.

The final data from 9 January 2026 They've just been sued today and reveal something far more important than a "massive delivery" day. It was a day of physical capital leakage.

By Igor Pereira Financial Market Analyst

There were no headlines at Bloomberg, but math is brutal: 70 metric tons of silver left the system in just 24 hours.

Below is the complete autopsy of the inventory report that proves the physical grip.

Let's dissect the input and output flow. Math doesn't lie.

• Received (Inflow): +770.848 ounces.

• Outflow: - 3.026.029 ounces.

• NET CHANGE - 2.255.181 ounces of silver.

That's not "paper rerun" or "label exchange." That's physical metal being loaded into armored trucks and coming out the door.

The list of those who lost metal shows that demand is reaching the biggest players:

• StoneX: -791.854 ounces

• Brink's: -617.598 ounces

• JP Morgan: -435.822 ounces

• CNT: -351,219 ounces

• Loomis: -259.843 ounces

Analysis: When StoneX and JP Morgan see out of this magnitude in a single day, it means institutional or industrial customers are demanding physical possession, no longer trusting to leave the metal in the purse vaults.

Here's the technical detail that prepares the Squeeze:

• The Fall: The stock "Registered" (silver available for immediate delivery against future contracts) fell -399.374 oz..

• The Meaning: This metal was reclassified to "Eligible" or removed. == sync, corrected by elderman == There is less silver available to cover the paper shorts. That's a structural supply squeeze.

Yeah, some metal came in (Asahi: +590k oz, HSBC: +180k oz), but that was just damage control. The volume that came in wasn't even close enough to make up for what came out. The safes are not refueling; they are struggling not to dry.

No Drama, just math. In normal markets, safes refuel quietly. In stressed markets, as now, the physicist disappears without fuss.

My Vision: This is what physical scarcity looks like before the price reacts violently.

1. The Signal: 70 tons removed on a panic-free day from ETF is real demand "Wholesale".

2. Action: Paper can be rolled, contracts can be settled in cash, but removed metal is over. Keep accumulating. The disconnect between spot price and physical reality is at the limit.

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Game Turned: The Next Breakup Level

With the stock "Registered" shrinking daily, we calculate the exact number of remaining ounces that, if hit, will force COMEX to declare Force Majeure or limit deliveries.

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