COMEX Warehouse Stocks Feb 1, 2011

MASSIVE SILVER INVENTORY DRAWNDOWN RESUMES

SILVER

45,480 ozs withdrawn from the dealer’s (registered) inventory
1,118,539 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 43.46 Mozs
Total customer inventory 59.94 Mozs
Combined Total 103.40 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
91,059 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.93 Mozs
Total customer inventory 8.47 Mozs
Combined Total 11.40 Mozs

There were 91 Kozs of gold withdrawn from the customer inventory. There were a massive 1.1 Mozs of silver withdrawn from the customer inventory together with 0.04 Mozs withdrawn from the dealer inventory. The total inventory now has a “103” handle. It is interesting that there are such large movements in silver when there are only 0.6 Mozs of silver notices issued. This indicates there are big supply problems elsewhere and silver is being pulled off the Comex.

There were 1,699 delivery notices issued in the FEB gold contract. The FEB gold delivery notice total for the month is 8,594 notices or 859,400 ozs.

There were 10 delivery notice issued in the FEB silver contract. The FEB silver delivery notice total for the month is 121 or 0.6 Mozs.

The OI in FEB gold decreased to 4,887 contracts which together with the issued delivery notices means that the potential for delivery is 1.35 Mozs or 46% of the registered inventory. The silver MAR open interest decreased to 63,990 contracts.
Cheers
Adrian