Stress is showing up in the reported physical crimex stores. From last night's Midas"

COMEX Warehouse Stocks April 22, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
590,835 ozs deposited in the customer (eligible) inventory
Total dealer inventory 50.20 Mozs
Total customer inventory 65.20 Mozs
Combined Total 115.40 Mozs

GOLD

306 ozs withdrawn from the dealers (registered) category
1,479 ozs deposited in the customer (eligible) category
Total dealer inventory 2.43 Mozs
Total customer inventory 7.72 Mozs
Combined Total 10.15 Mozs

There were paltry movements in gold. I can not report the warehouse movements of silver. Why? Because the Comex has uploaded platinum and palladium stocks instead of the silver stocks! This is very sloppy work. Should we have confidence in their warehouse data when they upload the wrong file? This comes on the heels of yesterday’s bizarre internal adjustment where 0.17 Mozs of silver appeared in the inventory out of nowhere. Is this an honest mistake uploading the wrong file or is this more obfuscation?

There were 30 delivery notices issued in the APR gold contract. The APR gold contract total for the month is 13,186 notices or 1,318,600 ozs.

There were no delivery notices issued in the APR silver contract. The total delivery notices for the month in silver stand at 469 or 2.34 Mozs.

Silver contango is 0.3 cents APR/MAY while for APR/JUN contracts it is 1.7 cents. There is $0.0 of contango in gold APR/MAY and $0.6 of contango for APR/JUN.

The Open Interest in the APR gold contract is 306 or 0.03 Million ozs. Along with the already issued delivery notices the gold demand in April could be 1.35 Mozs or 56% of the dealer inventory! There is still no indication of any sizeable movement out of the inventory yet.

The dealers silver inventory of 50 Mozs remains desperately low in light of 42,717 contracts of OI in the MAY contract.
Cheers
Adrian