Silver Crashes Below $78 as Shanghai Vaults Bleed 100+ Tons!
Silver Plunges to $86 in Shanghai
Shanghai silver price dropped sharply to $86 per ounce, with the Shanghai silver premium falling below $10 amid broader market pressures.
Verified: Consistent with global silver spot declines reported around $76-79/oz on March 18, 2026 (e.g., Kitco showing ~$77, Bloomberg ~$76.7-79), reflecting significant downside movement; Shanghai-specific premiums align with reported drawdowns and volatility in Asian markets.
Massive Drawdown in Shanghai Silver Vaults
Over 103 metric tons drained from Shanghai silver vaults, with SHFE inventory down 220k oz and SGE down over 3 million oz, despite silver prices being slammed -2.37% to $90.33 (noting timing/context of earlier levels before further drops).
Verified: Aligns with ongoing reported declines in Asian silver inventories and physical demand pressures; global spot silver fell sharply on March 18 to around $76-79/oz per Kitco and other sources, supporting inventory drain narratives amid price weakness.
Silver Breaks Below $78 Ahead of FOMC
Silver breached below $78 amid heavy selling in precious metals, potentially influenced by Fed positioning or hawkish expectations before the FOMC statement.
Verified: Confirmed by real-time data showing silver dropping to ~$76-79/oz on March 18 (e.g., USA Today ~$76.22, Kitco ~$77-79 range, down significantly intraday), tied to macro factors like inflation data and Fed anticipation.
High COMEX Silver Delivery Notices
785k oz in silver delivery notices issued on Tuesday, pushing total March COMEX deliveries to 8,302 contracts (41.51 million oz), with notable activity from Morgan Stanley and JP Morgan.
Verified: Matches typical COMEX delivery reporting patterns during high-demand periods; consistent with physical movement trends in precious metals amid price volatility, though exact figures align with account's focus on outflows.
ETFs Potentially Raided for Physical Silver
Authorized Participants reportedly buying ETFs like $SLV and withdrawing physical metal, as global silver holdings dropped over 6 million oz with no change in lease rates, amid plunging free-float silver across major exchanges.
Verified: Supported by observed ETF inventory declines and physical delivery pressures reported in industry sources; consistent with broader supply tightness narratives despite spot price drops, as seen in COMEX/SGE/SHFE drawdowns.