THE $79 LIE: New York Has NO Silver Left (Shanghai Just Exposed The Truth)

Silver is not trading at one price anymore.
Right now, Shanghai is printing ~$85/oz while New York (COMEX) shows ~$79/oz — the same metal, same day, with a $6 gap that keeps widening.

That isn’t “normal volatility.” It’s a price discovery split — and it’s the kind of signal that shows up when physical supply gets tight and paper markets can’t keep up.

In this video, I explain why the $79 screen price can become a “lie” when real metal is demanded, why arbitrage isn’t closing the spread, and what it means when a delivery-driven market (Shanghai) starts setting the benchmark for the metal industries actually need.

In this breakdown you’ll understand:

Why Shanghai vs COMEX is the most important silver story right now

How Shanghai is more delivery/physical-oriented, while COMEX is largely paper settlement

Why a widening East/West premium signals tightness in deliverable metal

The “arbitrage problem”: why the spread should close… and why it can’t in a real squeeze

What to watch next: physical premiums, delivery delays, warehouse inventories, lease rates, open interest

Why silver’s industrial role (solar, EVs, 5G, AI data centers, electronics, medical) makes demand price-inelastic

How supply is structurally constrained (byproduct mining + long mine timelines + limited recycling)

Why a paper/physical divergence often ends with a violent repricing (gap moves, forced buying, liquidation)

If Shanghai is where the metal is — and where the demand is — then Shanghai is where the truth gets priced.
COMEX can show $79… but if you can’t source deliverable metal at that level, the screen price stops being the real price.

👇 COMMENT: Do you think COMEX still controls price discovery — or has Shanghai taken the lead?
And where are you watching from (US / Europe / Asia)?

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⚠️ Disclaimer: This video is for educational purposes only. Not financial advice. Do your own research and consult a licensed professional.