Alasdair Macleod: Comex silver grinds to a halt

By Alasdair Macleod GoldMoney, Toronto Friday, May 1, 2026 With open interest down to multi-decade lows, trading in silver is the risk no one is prepared to take. Market-makers make wide prices and speculators are not prepared to play. Open interest in both gold and silver Comex contracts is extremely low, as we explain in this report. And it should be borne in mind that current levels of open interest represent very oversold markets ripe for a bear squeeze. ... Dispatch continues below ... ... ADVERTISEMENT ... Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:  http://www.goldmoney.com/?gmrefcode=gata With its enormous volatility, Comex silver is an excellent counter for a market maker to trade. But they are trying to close it down.  The reason is simple. Even with fewer than 100,000 contracts open interest, the short side is an unacceptable risk. One can understand management oversight in the swaps and bullion banks telling their trading desks to get out of silver because despite the trading opportunities, mark-to-market losses are simply unacceptable. This has driven open interest to lows not seen for over 15 years. ... ... For the remainder of the analysis: https://www.goldmoney.com/research/comex-silver-grinds-to-a-halt * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png