PRECIOUS METALS | BRICS Nations Withdraw Silver from COMEX, Increasing Market Strain

BRICS nations are significantly withdrawing physical silver from the COMEX, leading to increased inventory pressure and a widening price gap with the Shanghai silver markets. According to NS3.AI, JP Morgan is quietly boosting its silver holdings in anticipation of a significant price revaluation, as physical accumulation accelerates and refined silver supplies become tighter. Analysts caution that an impending delivery demand could further stress the COMEX market. JP Morgan's updated forecasts suggest that silver could average $81 per ounce in 2026, more than doubling last year's price.