COMEX Warehouse Stocks Mar 7, 2011

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
42,416 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 41.37 Mozs
Total customer inventory 61.77 Mozs
Combined Total 103.14 Mozs

GOLD

2,500 ozs withdrawn from the dealers (registered) category
ZERO ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.45 Mozs
Total customer inventory 8.66 Mozs
Combined Total 11.11 Mozs

There were only paltry movements of gold and silver.

There was 1 delivery notice issued in the MAR gold contract. The MAR gold delivery notice total for the month is 985 notices or 98,500 ozs.

There were 0 delivery notices issued in the MAR silver contract. The MAR silver delivery notice total for the month is 308 or 1.54 Mozs. The shorts clearly have a problem with available silver because so few delivery notices have been issued so far this month and there have been only 5 delivery notices issued in the last three days. However, the open interest is declining without delivery notices having been issued which indicates that cash settlement is occurring; that along with the massive backwardation tells us loud and clear there is no available silver at this price.

The OI in MAR silver stands at 1,675 contracts. The potential silver delivery for the month is 9.92 Mozs or 24% of the registered inventory.
Cheers
Adrian