New Delhi, Feb. 23 -- Silver inventories at the Commodity Exchange, Inc. (COMEX) have declined sharply in February 2026, with total registered stocks falling below 90 million ounces. Significant withdrawals from Western vaults indicate a potential structural shift in the global silver market, as physical demand increasingly challenges paper-based pricing mechanisms.

Total COMEX silver inventories as of February 20 stood at 366.25 million ounces, down nearly 31% from approximately 532 million ounces in October 2025. Registered silver stocks have slipped below the critical 90 million ounce mark to 88,191,059.264 ounces, while eligible inventories declined to 278,065,980.223 ounces, official data showed. Inventories have been on a consisten...