BRICS nations, including Brazil, Russia, India, China, and South Africa, have begun withdrawing large quantities of physical silver from the COMEX market, leading to a reduction in stock levels and widening price differences compared to the Shanghai silver market. This has created a tightening in global silver supply, significantly impacting precious metals trading. Meanwhile, JPMorgan has quietly increased its silver holdings, signaling expectations of a substantial price rise. COMEX, a major precious metals exchange based in New York, serves as a key global hub for silver trading. The BRICS countries’ reduction of physical silver reserves has limited the availability of silver in the market, causing not only a decline in COMEX inventories but also an expanded price gap, as silver prices remain comparatively lower in Shanghai. Experts suggest that the supply-demand imbalance for silver may widen further in the near future, potentially exerting additional pressure on COMEX silver supplies. JPMorgan’s forecasts indicate that silver prices could reach an average of $81 per ounce by 2026, nearly double last year’s price. This scenario may encourage increased investment in silver, resulting in greater volatility in the precious metals market. These global market changes are being viewed in the context of industrial demand, investment preferences, and fluctuations in the global economy. As silver usage grows in electronics, photography, and other industrial sectors, rising demand continues to influence precious metal prices.
Source: binance
