Silver Market$XAG $XAU $PAXG The commodity has just witnessed a supply shock as data from the COMEX exchange recorded a huge amount of Silver being withdrawn from the storage system.
One or more mysterious Whales have executed large-scale accumulation, causing total inventory to decline severely.
🔷 According to the statistics report for the activity on 03/02/2026, a total of 3,066,617.296 Ounces of Silver have been completely withdrawn from the COMEX storage facilities.
Asahi Depository: This is the place under the most pressure with 1,881,937.860 oz withdrawn from the warehouse.
HSBC Bank: Recorded the second largest withdrawal with 902,102.976 oz.
JPMorgan: Also withdrew 282,576.460 oz.
🔶 In addition to the physical withdrawals, the activity of transferring status between Eligible and Registered categories is also bustling:
The Withdrawal Group: A large amount of silver has been transferred from Registered to Eligible status (halted for sale/pending withdrawal), including:
Asahi: -610,906.300 oz.
Brink's: -632,174.500 oz.
JPMorgan: -318,074.700 oz.
The Deposit Group: The only bright spot comes from Loomis International, as this warehouse recorded a sudden increase of 2,548,921.080 oz in the Registered category, ready for trading.
After this massive net withdrawal, the total amount of silver in inventory across the entire COMEX system has decreased to 400,790,910.536 oz.
The fact that more than 3 million ounces of silver were withdrawn from the system in just one day is a signal that the demand for physical silver is extremely urgent.
Big players are frantically gathering real stocks into their private warehouses instead of leaving them on the paper trading exchange.
This article is for reference only and is not investment advice. Please read and consider carefully before making any decisions.