COMEX Warehouse Stocks Feb 16, 2011

MASSIVE DRAIN OF COMEX SILVER INVENTORY RESUMES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
302,311 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 41.92 Mozs
Total customer inventory 60.61 Mozs
Combined Total 102.53 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
40,499 ozs deposited in the customer (eligible) category
Total dealer inventory 2.66 Mozs
Total customer inventory 8.55 Mozs
Combined Total 11.22 Mozs

There were 40.5 Kozs of gold deposited in the customer inventory. There were 0.3 Mozs of silver withdrawn from the customer inventory. We still have a “102” handle on the total inventory.

There were 62 delivery notices issued in the FEB gold contract. The FEB gold delivery notice total for the month is 10,663 notices or 1,066,300 ozs.

There was 1 delivery notice issued in the FEB silver contract. The FEB silver delivery notice total for the month is 394 or 1.97 Mozs.

The OI in FEB gold decreased to 699 contracts which together with the issued delivery notices means that the potential for delivery is 1.14 Mozs or 43% of the registered inventory. The silver MAR open interest decreased to 59,851 contracts; this is the first reduction below 60K contracts in the MAR OI but this is still very high so close to first notice day on Feb 28. The cartel has a big problem in silver delivery coming their way!
Cheers
Adrian