COMEX Inventory Today
Live COMEX warehouse stocks for every CME-traded metal — registered, eligible, and total inventory across every approved depository. Updated daily after CME publishes the prior day’s warehouse report.
Silver
Gold
Copper
Platinum
Palladium
What COMEX inventory tells you
The COMEX warehouse inventory is the physical metal that backs CME’s precious-metals and copper futures contracts. Every business day after market close, CME publishes a depository-by-depository report listing registered (warranted), eligible (meets standards but not warranted), and total stocks for each metal.
The series traders watch most closely is registered inventory. Registered metal is what can be delivered against an active futures contract, so it’s the inventory pool that’s actually drawn down when delivery notices are issued during the active contract month. Sharp drops in registered without an offsetting rise in eligible signal real outflows; sharp drops with offsetting eligible rises just reflect warrant cancellations.
The per-depository breakdown matters too. JPMorgan and HSBC hold the majority of registered gold; the silver registered pool is more spread out across Brink’s, Loomis, JPMorgan, and CNT. Watching which house is being drawn down often tells you who is being asked for physical delivery.
What to watch by metal
- Silver
- Registered drawdowns during March, May, July, September, December delivery months — the silver active months.
- Gold
- Net flows between JPMorgan and HSBC are typically the most informative — they hold the bulk of registered gold.
- Copper
- COMEX copper is small relative to LME copper — most physical action happens on LME, but COMEX can spike on US-specific tightness.
- Platinum
- Platinum inventory is small — single-day moves can equal 10%+ of registered stock. Watch the absolute number, not just the percentage change.
- Palladium
- Palladium inventory has been historically tight; even small drawdowns can signal physical stress.
Methodology & sources
All COMEX inventory data on MetalCharts comes directly from CME Group’s daily warehouse stock reports. We mirror the per-depository breakdown rather than aggregating across vaults so the inventory composition is fully transparent. We do not smooth, interpolate, or otherwise transform the published values — what you see is what CME publishes, refreshed within an hour of release.
Read the full COMEX methodology page for the per-metal contract conventions, registered vs eligible mechanics, and known data quirks.
Frequently asked questions
- What is COMEX inventory?
- COMEX inventory is the total amount of physical gold, silver, copper, platinum, and palladium held in CME Group-approved depositories that back COMEX futures contracts. CME publishes a daily report breaking down stocks by depository (Brink's, Loomis, JPMorgan, HSBC, etc.) and by status (registered, eligible).
- What's the difference between registered and eligible inventory?
- Registered inventory has an active warehouse warrant and is deliverable against a futures contract right now. Eligible inventory meets COMEX bar-quality and warehouse standards but has no active warrant — it can be moved into the registered pool on short notice if its owner chooses. Total inventory is the sum of the two.
- Why does COMEX inventory matter?
- COMEX inventory levels — particularly the registered share — are a direct indicator of physical settlement risk during active delivery months. Sharp drawdowns in registered stocks can signal large stoppers calling for delivery, while sharp rises often reflect reclassifications between eligible and registered status.
- How often does COMEX inventory update?
- Once per business day. CME publishes the prior day's warehouse stocks around 4:00 PM Central Time. MetalCharts pulls and refreshes the public series within an hour of CME's publication. Holidays and CME maintenance windows can push the update back several hours.
- Who are the major COMEX depositories?
- The largest COMEX-approved depositories include JPMorgan Chase, HSBC, Brink's, Loomis International, Manfra Tordella & Brookes, Malca-Amit USA, and International Depository Services. Each publishes its own per-warehouse breakdown daily; we surface that breakdown rather than collapsing to a single network total.
- Where can I download COMEX inventory historical data?
- Visit the per-metal pages (/comex/silver, /comex/gold, /comex/copper) for interactive history charts going back to the early 2000s. The underlying source is CME Group's daily warehouse stock reports.
