Silver Short Squeeze: Only 14% of Futures Contracts Have Been Closed

According to CoinWorld, silver futures prices have soared above $117 per ounce, continuing a historic rally, with a severe shortage of physical supply being the main driver behind the price surge. COMEX registered inventories can only cover 14.2% of open futures positions, while commercial short positions are more than twice the amount of deliverable silver. The market remains in a state of spot premium, and unusual contract rollovers combined with massive industrial demand from the solar energy sector have further tightened supply, creating conditions for a potential short squeeze.