COMEX Warehouse Stocks Sep 10, 2010

SHENANIGANS IN SILVER DELIVERY NOTICE RECORD KEEPING INDICATE MORE SMOKE

SILVER

30,438 ozs withdrawn from the dealer’s (registered) inventory
263,851 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 53.98 Mozs
Total customer inventory 56.55 Mozs
Combined Total 110.53 Mozs

GOLD

56,547ozs withdrawn from the dealers (registered) category
65,043 ozs deposited in the customer (eligible) category
Total dealer inventory 2.48 Mozs
Total customer inventory 8.26 Mozs
Combined Total 10.74 Mozs

In gold there were 56Kozs withdrawn from the dealer inventory while 65Kozs were deposited in the customer inventory. There were 0.26 Mozs of silver withdrawn from the customer inventory and 0.03Mozs of silver withdrawn from the dealer inventory.

There were 0 delivery notices issued in the SEP gold contract. The SEP gold delivery notice total for the month is 304 notices or 30,400 ozs.

There were 274 delivery notices issued in the SEP silver contract. I follow the delivery notices every day so I know when there is something that is irregular and today is a prime example. The total delivery notices for the month as of September 9 was 1,072 so with the 274 issued September 10 the total should be 1,346. It is reported instead by COMEX as 1,564! How can this be? Either someone can not add up at the Comex or there is something very suspicious going on with delivery notices. I document the numbers every day and the error is certainly not in my record keeping. Where did these extra 218 delivery noticescome from? So now (according to Comex) the total delivery notices for the month in silver stand at 1,564 or 7.8 Mozs. Goldman issued 0 and stopped 30, BNS issued none and stopped 2, while JPM issued 0 and stopped 190.

The SEP silver contract Open Interest stands at 1,544 (an INCREASE from the 1,513 of yesterday). The OI together with the issued delivery notices indicate the potential amount standing for delivery could be 15.6 Mozs or 28.7% of the dealer inventory. This corresponds to 3,108, which is now comparable to the Open Interest on first notice day of 3,002 contracts; this reinforces the view that there are some shenanigans going on in the reporting of delivery notice issuance.
Cheers
Adrian

COMEX Warehouse Stocks Sep 13, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
349,747 ozs deposited in the customer (eligible) inventory
Total dealer inventory 53.98 Mozs
Total customer inventory 56.89 Mozs
Combined Total 110.87 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
55,453 ozs deposited in the customer (eligible) category
Total dealer inventory 2.48 Mozs
Total customer inventory 8.31 Mozs
Combined Total 10.79 Mozs

In gold there were 55Kozs deposited in the customer inventory. There were 0.34 Mozs of silver deposited in the customer inventory.

The Comex has failed to report the delivery notice update today! What are they hiding? They reported the Open Interest data, and they reported the warehouse data but the delivery notice report on the website is still the one from Friday.

The SEP gold delivery notice total for the month is 304 notices or 30,400 ozs (as of 9/10/10)

The total delivery notices for the month in silver stand at 1,564 or 7.8 Mozs (as of 9/10/10)

The SEP silver contract Open Interest stands at 1,500. The OI together with the issued delivery notices indicate the potential amount standing for delivery could be 15.3 Mozs or 28.7% of the dealer inventory.
Cheers
Adrian