Silver Market Tracker

A comprehensive resource for tracking Silver market data across global exchanges. Compares COMEX and Shanghai Gold Exchange prices, provides technical analysis, monitors vault inventory, and tracks macro indicators including real interest rates, the gold/silver ratio, and COT positioning data.

Last updated: Feb 27, 2026 04:30 PM CT

COMEX Vault Inventory

Daily COMEX silver vault stocks from CME Group delivery reports. Tracks Registered (available for delivery), Eligible (meets exchange standards but not available), and Combined totals. The "Days to Zero" metric estimates when Registered inventory would be depleted at the current withdrawal rate. Updated weekdays at 3:15 PM Central.

Registered 88.4M oz +2,293,330.71 oz (+2.66%)
Eligible 271.9M oz -2,599,762.99 oz (-0.95%)
Combined Total 360.3M oz -306,432.28 oz (-0.08%)
Days to Zero (Registered) 88 days
Report: 2/27/2026 | Activity: 2/26/2026
COMEX Silver Vault Inventory - 2 Week Trend

SGE vs COMEX Price Comparison

Tracks the price differential between Shanghai Gold Exchange silver benchmarks and COMEX spot silver (XAG/USD). The SGE premium reflects physical demand in China relative to Western paper markets. Updated twice daily after SGE close (3:45 PM Beijing) and at US market open (9:45 AM Eastern).

COMEX Silver (XAG/USD) $89.55
SGE Silver (Shanghai) $98.90 21,809 CNY/kg
SGE Premium +10.45% +9.35/oz
FX Rate 1 USD = 6.86 CNY
10-Day COMEX Trend +14.65%
Data as of 2026-02-26
SGE vs COMEX Silver Price Comparison - 10 Day Trend

Technical Analysis

60-day candlestick chart for COMEX Silver Futures (SI=F) with key technical indicators including Simple Moving Averages (20/50/200), Relative Strength Index (RSI-14), MACD (12/26/9), and Bollinger Bands (20,2). Updated daily at 5:45 PM Central after US market close.

Thesis Moderately Bullish
The technical picture leans bullish, though not all indicators are aligned. Watch for confirmation of momentum.
Price $94.39 +8.5% (Vol: 51,897)
Trend Moderately Bullish above 20 and 50 SMA
RSI (14) 58.5 neutral
MACD (12, 26, 9) Bullish, histogram expanding
Bollinger Bands Near upper band (extended)
Key Factors
Price above 20 and 50 SMA
RSI neutral at 58.5
MACD bullish with expanding momentum
Trading near upper Bollinger Band — extended and vulnerable
Data as of February 27, 2026
COMEX Silver Futures Technical Analysis - 60 Day Chart

US Dollar Index (DXY)

The US Dollar Index measures the value of the US dollar against a basket of six major currencies (EUR, JPY, GBP, CAD, SEK, CHF). A stronger dollar generally creates headwinds for silver prices, as it makes the metal more expensive in other currencies. Updated weekdays at 4:30 PM Central.

DXY Close 97.65
Daily Range 97.56 – 97.85
Daily Change -0.15 -0.16%
14-Day Trend +0.83 +0.85%
Silver Impact Neutral impact on silver
Data as of 2026-02-27
US Dollar Index (DXY) - 2 Week Trend

Gold/Silver Ratio

The Gold/Silver Ratio (GSR) measures how many ounces of silver it takes to buy one ounce of gold. A ratio above 80 historically signals silver is undervalued relative to gold, while below 60 suggests silver is expensive. Silver traders use this as a key valuation metric. Updated weekdays at 4:30 PM Central.

Current Ratio 56.1x Silver Overvalued
Prices Gold: $5,296.40 | Silver: $94.39
Daily Change -3.39 -5.69%
30-Day Range 44.1 – 66.5 Period: +5.87 (+11.68%)
Interpretation Ratio below 60 — silver is historically expensive relative to gold. Caution warranted.
Data as of February 27, 2026
Gold/Silver Ratio - 30 Day Trend

Real Interest Rates (TIPS)

Real interest rates (10-Year TIPS yield) have the strongest macro correlation with silver prices. Rising real yields create headwinds for silver by increasing the opportunity cost of holding non-yielding assets. Falling or negative real yields are historically the strongest tailwind for precious metals. Updated weekdays at 4:30 PM Central. Data from FRED.

Real Yield (10Y TIPS) 1.74% Strong Headwind
Nominal 10Y Treasury 4.02%
Breakeven Inflation 2.28%
Daily Change -0.03%
Silver Impact Real yields well above zero create significant opportunity cost for holding silver. Historically negative for silver prices.
Data as of February 26, 2026
Real Interest Rates (10Y TIPS) - 60 Day Trend

COT Positioning (CFTC)

The CFTC Commitments of Traders report shows how large speculators and commercial hedgers are positioned in silver futures. Extreme speculative long positioning often precedes corrections, while extreme short positioning is a contrarian buy signal. Data released weekly (Fridays for Tuesday positions). Updated weekdays at 4:30 PM Central.

Net Speculative Position +22,260 contracts Neutral
Weekly Change -1,743
Net Commercial -41,080
Open Interest 125,454 -6,042 change
Assessment Speculative positioning is within normal range. No clear contrarian signal from positioning data.
Data as of February 24, 2026 (Tuesday positions)
CFTC Silver COT Positioning - 26 Week Trend

Data sources: CME Group (vault inventory), Alpha Vantage (COMEX silver), Shanghai Gold Exchange (SGE benchmarks), Yahoo Finance (futures OHLCV, DXY, GSR), FRED (Treasury yields), CFTC (COT positioning)

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This site is for informational purposes only and does not constitute financial advice.