Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

Party started early. Slightly lower low today than yesterday's low of $71.925 Sterling

So far $71.715 is the low for today. Could it still be looking for a bottom?

The bad news is it made a lower low and it's also penetrating into the floor of support.

The good news is that it's only 20 cents lower, so support is still there, for now.. Could price be firming up and refusing to go any lower?

Yup I'm stoked
Not just about the potential market fireworks later today, but also about the May Silver contract coming due for delivery

Yup, we're in the "Rollover Period" so we've already started trading the July Silver contracts. The May contract enters it's Delivery Phase tomorrow, so you are seeing the market's transition to July as the primary benchmark.

Tomorrow is First Day Notice for May contracts

Traders who don't want to take physical delivery must "Roll"' their positions out of May before the end of the month.

As May approaches expiration, liquidity and volume naturally migrate to the next "'active" month (July), making it the more efficient contracts to trade.

But the most important part of all of this is that we get a glimpse into the COMEX accounting We're going to start hearing what the number of available ounces were this period vs the number of contracts. How many were taken possession of or transferred from the COMEX vaults. And how many were rolled forward into July.

We'll get to see all the May numbers and, just like we saw in March, we'll see how they manage to keep shell game going for another 3 months. Because it's widely known there are more paper contracts than available physical silver, yet the game continues somehow.

Very interesting. I will take what they give us.

Silver started coming off of yesterday's lows right after the close, with a little tail wind from the not so bad earnings reports.

There was a brief pullback around 10pm caused by surging Oil, hitting $110 a barrel, Oil then dropped back to $105 and Silver resumed course.

So far Silver is at a high of $74.355 for the day, that's $3 an ounce higher than yesterday afternoons low of $71.31

Is the downtrend broken?

Look for a close above yesterday's high.

May Day! May Day!

Just saying...

Have your tea ready just in case, we must remain vigilant lest they catch us snoozing and pull a fast one.

Personally I can't live without coffee and I love my Colombian Espresso ever since I had my first sip of the nectar as a young lad.



I haven't forgotten about the shenanigans they pulled at the end of the last contract in March. I wrote about it here but what happened was, just as Silver was getting squeezed and breaking above the ceiling of $92 an ounce, COMEX coincidentally had a "glitch" that caused an outage for almost 2 hours. And their "solution" to fix the glitch was to cancel just the right amount of Buy orders,
Silver immediately plunged a few bucks and kept falling after that. Crisis averted for COMEX and they managed to meet their obligations with just the right amount of Silver to meet the orders.

Let's see how they finagle it in this coming month.