COMEX Warehouse Stocks Aug 25, 2010

DRAIN OF SILVER INVENTORY RESUMES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
198,457 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 51.35 Mozs
Total customer inventory 60.05 Mozs
Combined Total 111.40 Mozs

GOLD

208 ozs withdrawn from the dealers (registered) category
7,217 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.58 Mozs
Total customer inventory 8.28 Mozs
Combined Total 10.86 Mozs

There were only paltry movements of gold. In silver 0.2 Mozs were withdrawn from the customer inventory. Furthermore there were 0.6 Mozs of silver transferred from the customer inventory to the dealer inventory by way of an internal “adjustment”.

There were 109 delivery notices issued in the AUG gold contract. The AUG gold delivery notice total for the month is 6,853 notices or 685,300 ozs. JPM issued 109 and stopped 0, HSBC issued none and stopped 106, and GS issued none and stopped 3.

There were 0 delivery notices 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 466 contracts. Together with the delivery notices issued the potential total amount standing for delivery in AUG could be 732Kozs or 28% of the dealer inventory.

There are 25,509 contracts of open interest in SEP silver or 128 Mozs; this is very high for this time of the month and yesterday’s dramatic reversal in silver and today’s equally impressive follow through is the cartel’s worse nightmare because it doesn’t do anything to help them getting a large number to sell or roll. Let the game begin!
Cheers
Adrian