Assuming Comex/CME still honor their contracts moving forward…you are right.
Of course I’m hoping like heck silver doesn’t go back down to the range you cite.
If this is a bull market then at some point the trillions fleeing bonds, stocks, everything else should overwhelm the criminals running PM paper.
So I prefer staying long non-derivative based PM’s because at some point that distinction will mean something when empty promises come to light/become important again.
Cheers