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Message: silver contract comments by Steer

silver contract comments by Steer

posted on Apr 16, 2010 11:13AM

The CME Delivery Report shows that 101 gold and 49 silver contracts are up for delivery on Friday. So far this month, 453 silver contracts have been delivered on the Comex. That's 2.3 million ounces... which ain't too shabby for a non-delivery month for silver... and the month is only half over. There were no changes reported in GLD yesterday... but the SLV had another whopping amount of silver taken out of it. This time it was an eye-watering 3,431,792 troy ounces. That's two full days of world silver production! Since February 26th... 14.4 million ounces of silver have been withdrawn from SLV by the 'authorized participants' because silver in quantity is not available anywhere else. The U.S. Mint had no report on Wednesday... but the Comex-approved depositories indicated that 367,866 ounces of silver were withdrawn on Tuesday. There was a lot of in-and-out activity... and if you want to see it for yourself... here's the link.

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