COMEX Warehouse Stocks Feb 3, 2011

MASSIVE SILVER INVENTORY DRAIN RESUMES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
667,368 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 43.40 Mozs
Total customer inventory 69.52 Mozs
Combined Total 102.92 Mozs

GOLD

5,100 ozs withdrawn from the dealers (registered) category
18,214 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.93 Mozs
Total customer inventory 8.44 Mozs
Combined Total 11.37 Mozs

There were 18.2 Kozs of gold withdrawn from the customer inventory and 5.1 Kozs withdrawn from the dealer inventory. There were 0.67 Mozs of silver withdrawn from the customer inventory. The total inventory now has a “102” handle. This is desperately low for the world’s premier futures exchange and especially as there are 64K contracts open for MAR.

There were 312 delivery notices issued in the FEB gold contract. The FEB gold delivery notice total for the month is 9,161 notices or 916,100 ozs. Scotia Mocatta issued 272 notices and HSBC stopped 276. Hmmm!

There were 0 delivery notices issued in the FEB silver contract. The FEB silver delivery notice total for the month is 188 or 0.9 Mozs.

The OI in FEB gold decreased to 1,880 contracts which together with the issued delivery notices means that the potential for delivery is 1.1 Mozs or 38% of the registered inventory. The silver MAR open interest decreased slightly to 64,163 contracts.
Cheers
Adrian