COMEX gold stocks up 34223.81 oz on Mar 17 from previous day

Comex Gold Inventory (Total): The total Comex gold inventory has increased by 34,223.81 troy ounces on March 17, 2025, reaching a record high of 40,465,964.07 troy ounces. In the most recent week, the cumulative total increase was 517,807.18 troy ounces, a 1.30% increase. Over the past month, the total inventory has risen by 3,017,639.75 troy ounces, a 8.06% increase. Since March 21, 2022, the inventory has ranged from a low of 16,898,041.50 troy ounces to a high of 40,559,729.86 troy ounces, with an average of 23,267,224.44 troy ounces. The current inventory is 42.50% higher than the average.

The total inventory of gold held in the COMEX (Commodity Exchange, Inc.) has reached unprecedented levels, surging by 34,223.81 troy ounces on March 17, 2025, to a record-breaking 40,465,964.07 troy ounces (1) [https://comexlive.org/gold/]). This significant increase, which represents a 1.30% rise over the previous week, marks the highest level of gold inventory in the COMEX since records began.

The cumulative increase over the past month has been even more substantial, with a total of 3,017,639.75 troy ounces added, equivalent to an impressive 8.06% rise (1) [https://en.cbcie.com/data/1023116.html]). This surge in gold inventory has been driven by a combination of factors, including increased demand for gold as a safe-haven asset, geopolitical tensions, and a weakening US dollar.

Historically, gold inventory in the COMEX has ranged from a low of 16,898,041.50 troy ounces in March 2022 to a high of 40,559,729.86 troy ounces in March 2025, with an average inventory level of 23,267,224.44 troy ounces (3) [https://learntrading.marketinvestopedia.com/comex-gold-inventory/]). The current inventory level is now a substantial 42.50% higher than the average.

The implications of this surge in gold inventory for gold prices are complex. On the one hand, a higher inventory level suggests an adequate supply to meet current demand, which might put downward pressure on gold prices. However, it is important to note that a significant portion of the gold inventory is held in the form of eligible gold, which has not yet been made available for delivery against futures contracts (3) [https://learntrading.marketinvestopedia.com/comex-gold-inventory/]). As such, the impact of the current inventory level on gold prices may be less pronounced than it appears at first glance.

Moreover, the factors driving the surge in gold inventory, such as geopolitical tensions and a weakening US dollar, are likely to persist, which could continue to support gold prices in the long term. As such, while the current surge in gold inventory may put some downward pressure on gold prices in the short term, it is unlikely to have a significant impact on the long-term outlook for gold prices.

In conclusion, the surge in gold inventory in the COMEX to record levels is a significant development that has implications for gold prices. While a higher inventory level might put some downward pressure on gold prices in the short term, the long-term outlook for gold prices is likely to remain positive, driven by ongoing geopolitical tensions and a weakening US dollar.