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Mike Maharrey: Unusual Comex trend could signal accelerating silver squeeze
By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Monday, January 12, 2026
An interesting development in the Comex silver exchange seems to reflect an accelerating silver squeeze.
The stage was set for a silver squeeze last April when significant amounts of metal moved from London to New York, driven by tariff worries. The displacement of metal, coupled with surging Indian demand, set off the first squeeze in October. That drove the silver price over $50 for the first time.
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Metal flowed back to London, but that didn't solve the underlying problem. While shuffling silver between London, New York, and India took the immediate pressure off the market, it didn't magically create new silver, and it didn't take long for silver squeeze 2.0 to develop last month. That pushed the price over $80.
This squeeze isn't manifesting just because metal is in the "wrong place." The underlying issue is that there are true shortages beginning to manifest. ...
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