As you can see the inventory at the Comex has been drastically declining for some time now. It is said that JP Morgan is desperately going into the open market to buy up all available physical silver to cover its deliveries.
Last month deliveries were fulfilled with only days to spare (typically they are fulfilled within the first half of the month). The time, it seems is drawing closer and closer to when the Comex will not be able to fulfill its contracts. What happens then? I think we all know.
- Chart via Jesse's Cafe