Texas Precious Metals announced on August 26 that its New York vault has been approved as a licensed depository for the COMEX division of CME Group. The designation authorizes the facility to store, weigh and process physical metal eligible for delivery against COMEX and NYMEX contracts, covering silver, platinum, palladium and gold, including gold under the enhanced delivery specification.
The approval places the Texas based firm among roughly a dozen exchange approved depositories responsible for safekeeping and settlement of physical metal tied to exchange contracts. That group carries a specific operational burden. Approved vaults must meet CME standards for security, insurance, weighing accuracy and reporting, and their reported inventories feed the registered and eligible stock figures traders watch when they assess how much metal is available for delivery in a given contract month.
The timing follows a stretch of unusual strength in the silver market. Silver has traded near multi decade highs through 2026, supported by tight above ground inventories and industrial demand from solar manufacturing, electric vehicles and data center construction. Periods of tight physical supply raise the practical importance of vault capacity, because contract holders standing for delivery need approved storage able to receive and certify the metal.
The company said the New York location broadens its storage footprint and expands access for institutional traders, banks, refiners and bullion dealers seeking regulated storage with direct exchange access. The vault will also serve as one of two storage sites for a pair of precious metals exchange traded funds domiciled in the United States.
Source: Texas Precious Metals - https://www.globenewswire.com/news-release/2026/08/26/3351657/0/en/texas-precious-metals-granted-cme-registered-depository-status-for-gold-silver-platinum-and-palladium-at-ny-facility.html