COMEX Warehouse Stocks Aug 24, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
93,097 ozs deposited in the customer (eligible) inventory
Total dealer inventory 50.76 Mozs
Total customer inventory 60.84 Mozs
Combined Total 111.60 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
64 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.58 Mozs
Total customer inventory 8.29 Mozs
Combined Total 10.87 Mozs

There were only paltry movements of gold and silver and these were constrained to the customer inventories. No gold or silver moved into or out of the dealer inventories.

There were 7 delivery notices issued in the AUG gold contract. The AUG gold delivery notice total for the month is 6,744 notices or 674,400 ozs.

There was 1 delivery notice issued in the AUG silver contract. The total delivery notices for the month in silver stand at 22 or 110,000 ozs.

The Open Interest in the AUG gold contract stands at 475 contracts. Together with the delivery notices issued the potential total amount standing for delivery in AUG could be 722Kozs or 28% of the dealer inventory.

There are 28,766 contracts of open interest in SEP silver or 144 Mozs; this is very high for this time of the month today’s dramatic reversal in silver will not have achieved the cartel’s mission of getting a large number to sell or roll. Today the cartel suffered a Waterloo event. The AM Fix was $1218 and then gold was dumped to knock it down to $1210 in preparation for the lousy housing numbers. But massive physical buying showed up bringing the PM Fix to $1222. I can not remember any reversal ever like this between the AM and PM Fixes. What is even more salacious is the charge was led by silver! It was the first to rally back into positive territory. Looks like the “big money” has read my recent articles…it doesn’t need to be “smart money” because you can be as dumb as a rock but you can figure out if the Cartel is trying to suppress the gold price on the PM Fix all you have to do is to take it from them!
Cheers
Adrian