COMEX Warehouse Stocks Feb 25, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
199,007 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 46.38 Mozs
Total customer inventory 62.50 Mozs
Combined Total 108.88 Mozs

GOLD

9,000 ozs deposited in the dealers (registered) category
29,748 ozs deposited in the customer (eligible) category
Total dealer inventory 1.62 Mozs
Total customer inventory 8.35 Mozs
Combined Total 9.97 Mozs

There was no movement of silver into or out of the dealer inventory. There were 0.2 Mozs of silver withdrawn from the customer inventory for the second straight day.

The COMEX failed to provide updated information on metals delivery notices today.

There is $0.7 of contango in gold MAR/APR and $1.9 of contango for MAR/JUN. The contango MAR/APR in silver is 1.2 cents while for MAR/MAY contracts it is 2.2 cents.

The Open Interest in MAR gold is 589 contracts. The open interest in MAR silver is 12,267 contracts. This is very high. As first notice day was yesterday these contracts should be paid for and are standing for delivery. This represents over 60 Mozs while the dealers only have 46 Mozs registered for delivery. Watch this space!
Cheers
Adrian