Resolves YES if credible industry or government sources report that violence-related disruptions in Mexico's silver mining regions (such as Zacatecas and Durango) affect more than 5% of the global silver production on May 1, 2026. Resolution will rely on official mining reports, government announcements, or major industry analyses published around that date. Given Mexico's significant role in global silver supply, a disruption exceeding 5% would materially impact availability and prices. Disruptions must be directly attributable to violence and exclude unrelated operational issues.

Violence in Mexico's core silver-mining region, including Zacatecas and Durango, could disrupt a significant portion of global silver supply. This poses substantial risks to silver availability and could drive up market prices.

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