We've written about the COMEX silver "delivery" process multiple times in the past. However, with "deliveries" for the May18 contract surging to totals not seen since 2007, we thought it might be time to write about this again.

First, a disclaimer:

This is NOT meant as some sort of "the COMEX is about to default" hyperbole. Instead, this post is intended simply as a look at the absolute numbers in an attempt to discern any trend worth noting.

And we might start by referring you to the two most recent articles we've published on this topic:

• This from March of 2017 gives important background on the sham "delivery" process: https://www.tfmetalsreport.com/blog/8243/march-COM...

• This from October of 2017 details the surge in total "deliveries" that began last year: https://www.tfmetalsreport.com/blog/8594/COMEX-sil...

OK, so what do you need to know at present and what prompts this latest update?

The month of May is a "delivery month" for COMEX silver, and the total amount of "deliveries" has reached a level not seen since 2007. As you can see below, the total amount of "deliveries" for May has reached 7,157 contracts. This is the highest one-month total since December of 2007, and it represents a total "delivery" of nearly 36,000,000 ounces of "silver". (Thanks to Nick Laird at GoldChartsRUs!)

https://www.sprottmoney.com/Blog/surging-comex-silver-deliveries-craig-hemke-silver-news.html