MASSIVE AMOUNT OF GOLD & SILVER OPTION EXERCISED!

COMEX Warehouse Stocks Apr 27, 2011

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
104,493 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 33.32 Mozs
Total customer inventory 68.42 Mozs
Combined Total 101.65 Mozs

GOLD

2,499 ozs deposited in the dealers (registered) category
322 ozs withdrawn from the customer (eligible) category
Total dealer inventory 1.83 Mozs
Total customer inventory 9.20 Mozs
Combined Total 11.03 Mozs
There were paltry movements of gold in and out of the warehouse but 148 kozs of gold were transferred from the dealer inventory to the customer inventory by an internal adjustment. In silver 0.1 Mozs were withdrawn from the customer inventory. There was a massive 2.4 Mozs transferred from the dealer inventory to the customer inventory by an internal adjustment. There are 26,890 contracts still open for MAY with first notice day on Friday!

There were 191 delivery notices issued in the APR gold contract. The APR gold delivery notice total for the month is 3,884 notices or 388,400 ozs.

There were 81 delivery notices issued in the APR silver contract. The APR silver delivery notice total for the month is 312 or 1.58 Mozs.

The OI in APR silver stands at 110 contracts (an INCREASE of 31) while in gold it stands at 382 contracts. The potential gold delivery for the month is 426,600 ozs or 22% of the registered inventory.

In a stunning development yesterday 18,366 MAY GOLD CALL options were EXERCISED for futures contracts and 21,721 MAY SILVER CALL options were EXERCISED for futures. If these are not settled in a backroom cash deal for large premiums a default is looming!
Cheers
Adrian