🚨 Silver investors are being tested right now.
COMEX inflows are adding supply relief to U.S. warehouses. The May July contango is widening as futures price in normal carry costs. Real yields just hit their 2026 highs, pushing opportunity cost pressure onto metals.
But here's the other side. London's 1 month lease rate just flipped negative again. That tells you physical metal is tight, and squeeze risk is real. Shanghai inflows confirm demand from China isn't slowing down.