COMEX Warehouse Stocks Aug 17, 2010

DRAIN OF COMEX SILVER INVENTORY RECOMMENCES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
566,479 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 50.99 Mozs
Total customer inventory 58.94 Mozs
Combined Total 109.93 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
5,228 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.74 Mozs
Total customer inventory 8.29 Mozs
Combined Total 11.03 Mozs

There were 5Kozs of gold withdrawn from the customer inventory. There were 0.57 Mozs of silver withdrawn from the customer inventory. All of it came out of the HSBC warehouse.

Total inventory is now again below 110 Mozs.

There were 3 delivery notices issued in the AUG gold contract. The AUG gold delivery notice total for the month is 6,343 notices or 634,300 ozs.

The delivery notice issue has dried up when the OI is still 951 contracts. Typically the shorts should issue delivery notices as fast as possible to stop paying storage and insurance. If the registered inventory is truly available for delivery why are so many notices still outstanding?

There were 5 delivery notices issued in the AUG silver contract. The total delivery notices for the month in silver stand at 15 or 75,000 ozs.

The Open Interest in the AUG gold contract stands at 951 contracts. Together with the delivery notices issued the potential total amount standing for delivery in AUG could be 729Kozs or 27% of the dealer inventory.
Cheers
Adrian