Massive Drain of Comex silver/almost all gold and silver at comex settled by paper -
Monday, June 6, 2011
Good evening Ladies and Gentlemen:
(amended)
There is a lot of stuff happening today so please read everything
today very carefully.
http://harveyorgan.blogspot.com/
Gold closed today up $4.80 to $1546.50.
Silver which for most of the day traded up by over one dollar
lost some of its steam late in the comex session to close at
$36.77 up 58 cents.
It had traded well north of 37.00 dollars during
the early comex session.
Let us go to the comex and see how trading fared today.
First the gold comex:
The total gold comex OI rose today by 4311 contracts from
503,511 to 507,822 which of course is basis Friday,
the day of the lousy jobs report.
The banking cartel provided a lot of non backed paper gold
trying to suppress its rise.
The front delivery month of June saw its OI fall from 5442
to 4257 for a loss of 1185 contracts.
We had deliveries on Friday of 980 so we lost 205 contracts
to fiat settlement.
In the body of the commentary I will reveal to you astonishing
data which seems to suggest that all the comex gold and
silver are settled by paper.
The next front month for gold is August and we saw the OI
rise from 331,378 to 336,027 which is quite normal as we
quite away from first day notice for the August contract.
The estimated volume at the gold comex today was 105,382
which is quite tame.
The confirmed volume on Friday, was very good at 160,386.
And now for silver:
The total silver comex OI fell by 1683 contracts to 121,606
from 123,289.
Silver OI seems to be trading within a small band hovering
around 121,000 contracts.
Mysteriously the front options expiry month for June saw its
OI rise again from 157 to 172 for a gain of 15 contracts.
There were no deliveries so the gain will increase the amount
of silver standing.
We have witnessed the front options delivery month go from 115
to 187 and then back down to 157 and then back up to 172
all with zero deliveries of silver.
Go figure!!
The next big delivery month for silver and this will have
all eyes focusing on this is July.
The OI for July fell by 2284 contracts from 57,094 to 54,810
contracts.
We still have 3 weeks to go before first day notice.
The estimated volume at the silver comex today was very tame
at 57,736.
The confirmed volume on Friday was much firmer at 84,565.
Here is the chart for 6/7/2011 regarding deliveries and
inventory changes at the comex.
This is for the June delivery month in gold.
Gold
Ounces
Withdrawals from Dealers Inventory
nil
Withdrawals fromCustomer Inventory
nil
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
nil
No of oz served (contracts) today
15400 (154)
No of oz to be served (notices)
410300 oz (4103)
Total monthly oz gold served (contracts) so far this month
335,4200 (3542)
Total accumulative withdrawal of gold from the Dealers inventory this month
nil
Total accumulative withdrawal of gold from the Customer inventory this month
10,205
Let us begin with gold.
We witnessed zero activity in gold. This is polar opposite to silver which you will see shortly.
The only transaction was an adjustment whereby 796 oz was removed from a customer's inventory.
The comex folk notified us that we had a total of 154 notices filed for delivery or 15400 oz of gold.
The total number of notices filed so far this month total 3542 for 354200 oz of gold.
To obtain what is left to be served, I take the OI standing for June (4257) and subtract out today's deliveries
(154) which leaves with with 4103 notices to be served upon or 410300 oz of gold.
Thus the total number of gold oz standing in this delivery month of June is as follows:
354,200 oz (already served) + 410,300 (oz to be served) = 764,500 oz.(23.78 tonnes)
Yesterday we had a reading of: 785,000 so we lost more to paper fiat.
And now for silver:
Silver
Ounces
Withdrawals from Dealers Inventory
429,567 (Brinks, Scotia0
Withdrawals from Customer Inventory
157,075 (Brinks, Scotia)
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
nil
No of oz served (contracts) today
nil (0)
No of oz to be served (notices)
860,000 (172)
Total monthly oz silver served (contracts) so far this month
915,000 (183)
Total accumulative withdrawal of silver from the Dealers inventory this month
429,567
Total accumulative withdrawal of silver from the Customer Inventory this month.
1,368,765
Today we witnessed a massive exodus of silver from the silver vaults.
As Zero Mostel would say: where there is smoke there is salmon!!"
The fires are burning at all registered vaults.
The dealer saw two massive withdrawals of silver:
1. 375,781 oz from Brinks.
2. 53,786 oz from Scotia.
total silver leaving the dealer: 429,567 oz.
The customer saw this silver leaving their vaults:
1. 155,082 oz leaving Brinks customer vault.
2. 1993 oz leaving Delaware.
total customer silver withdrawal: 157,075 oz.
The adjustments were also fierce:
There were two adjustments and both saw the dealer lose silver to the customer by way of an adjustment:
1. 438,708 oz (dealer to customer) HSBC
2. 5,137 oz (dealer to customer) Scotia.
total adjusted out silver: 446,845
total registered silver at the comex has now fallen to an all time low of 28.773 million oz.
Surprisingly for the 3rd day in a row we had zero notices filed for delivery. Thus the total number of notices remain at 183 for 915,000 oz.
To obtain what is left to be served upon I take the OI for June ( 172) and subtract out the deliveries for today (zero) which leaves us with 172 notices or 860,000 oz
Thus the total number of silver oz standing in this non delivery month is as follows:
915,000 oz (already served) + 860,000 oz (to be served) = 1,775,000
we had 1700,000 oz on Friday so we gained back what we lost on Friday.
end
Let us now proceed to our ETF's SLV and GLD and then our
physical gold and silver funds:
Sprott and Central Fund of Canada.
The two ETF's that I follow are the GLD and SLV.
You must be very careful in trading these vehicles as these
funds do not have any beneficial gold or silver behind them.
They probably have only paper claims and when the dust settles,
on a collapse, there will be countless class action lawsuits
trying to recover your lost investment. .?.
http://harveyorgan.blogspot.com/
Great Panther Silver, Ltd. (GPL:AMEX - TSE:GPR
http://www.greatpanther.tv/
Keiser Report:
http://maxkeiser.com/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63869260
Monday, June 6, 2011
Good evening Ladies and Gentlemen:
(amended)
There is a lot of stuff happening today so please read everything
today very carefully.
http://harveyorgan.blogspot.com/
Gold closed today up $4.80 to $1546.50.
Silver which for most of the day traded up by over one dollar
lost some of its steam late in the comex session to close at
$36.77 up 58 cents.
It had traded well north of 37.00 dollars during
the early comex session.
Let us go to the comex and see how trading fared today.
First the gold comex:
The total gold comex OI rose today by 4311 contracts from
503,511 to 507,822 which of course is basis Friday,
the day of the lousy jobs report.
The banking cartel provided a lot of non backed paper gold
trying to suppress its rise.
The front delivery month of June saw its OI fall from 5442
to 4257 for a loss of 1185 contracts.
We had deliveries on Friday of 980 so we lost 205 contracts
to fiat settlement.
In the body of the commentary I will reveal to you astonishing
data which seems to suggest that all the comex gold and
silver are settled by paper.
The next front month for gold is August and we saw the OI
rise from 331,378 to 336,027 which is quite normal as we
quite away from first day notice for the August contract.
The estimated volume at the gold comex today was 105,382
which is quite tame.
The confirmed volume on Friday, was very good at 160,386.
And now for silver:
The total silver comex OI fell by 1683 contracts to 121,606
from 123,289.
Silver OI seems to be trading within a small band hovering
around 121,000 contracts.
Mysteriously the front options expiry month for June saw its
OI rise again from 157 to 172 for a gain of 15 contracts.
There were no deliveries so the gain will increase the amount
of silver standing.
We have witnessed the front options delivery month go from 115
to 187 and then back down to 157 and then back up to 172
all with zero deliveries of silver.
Go figure!!
The next big delivery month for silver and this will have
all eyes focusing on this is July.
The OI for July fell by 2284 contracts from 57,094 to 54,810
contracts.
We still have 3 weeks to go before first day notice.
The estimated volume at the silver comex today was very tame
at 57,736.
The confirmed volume on Friday was much firmer at 84,565.
Here is the chart for 6/7/2011 regarding deliveries and
inventory changes at the comex.
This is for the June delivery month in gold.
Gold
Ounces
Withdrawals from Dealers Inventory
nil
Withdrawals fromCustomer Inventory
nil
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
nil
No of oz served (contracts) today
15400 (154)
No of oz to be served (notices)
410300 oz (4103)
Total monthly oz gold served (contracts) so far this month
335,4200 (3542)
Total accumulative withdrawal of gold from the Dealers inventory this month
nil
Total accumulative withdrawal of gold from the Customer inventory this month
10,205
Let us begin with gold.
We witnessed zero activity in gold. This is polar opposite to silver which you will see shortly.
The only transaction was an adjustment whereby 796 oz was removed from a customer's inventory.
The comex folk notified us that we had a total of 154 notices filed for delivery or 15400 oz of gold.
The total number of notices filed so far this month total 3542 for 354200 oz of gold.
To obtain what is left to be served, I take the OI standing for June (4257) and subtract out today's deliveries
(154) which leaves with with 4103 notices to be served upon or 410300 oz of gold.
Thus the total number of gold oz standing in this delivery month of June is as follows:
354,200 oz (already served) + 410,300 (oz to be served) = 764,500 oz.(23.78 tonnes)
Yesterday we had a reading of: 785,000 so we lost more to paper fiat.
And now for silver:
Silver
Ounces
Withdrawals from Dealers Inventory
429,567 (Brinks, Scotia0
Withdrawals from Customer Inventory
157,075 (Brinks, Scotia)
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
nil
No of oz served (contracts) today
nil (0)
No of oz to be served (notices)
860,000 (172)
Total monthly oz silver served (contracts) so far this month
915,000 (183)
Total accumulative withdrawal of silver from the Dealers inventory this month
429,567
Total accumulative withdrawal of silver from the Customer Inventory this month.
1,368,765
Today we witnessed a massive exodus of silver from the silver vaults.
As Zero Mostel would say: where there is smoke there is salmon!!"
The fires are burning at all registered vaults.
The dealer saw two massive withdrawals of silver:
1. 375,781 oz from Brinks.
2. 53,786 oz from Scotia.
total silver leaving the dealer: 429,567 oz.
The customer saw this silver leaving their vaults:
1. 155,082 oz leaving Brinks customer vault.
2. 1993 oz leaving Delaware.
total customer silver withdrawal: 157,075 oz.
The adjustments were also fierce:
There were two adjustments and both saw the dealer lose silver to the customer by way of an adjustment:
1. 438,708 oz (dealer to customer) HSBC
2. 5,137 oz (dealer to customer) Scotia.
total adjusted out silver: 446,845
total registered silver at the comex has now fallen to an all time low of 28.773 million oz.
Surprisingly for the 3rd day in a row we had zero notices filed for delivery. Thus the total number of notices remain at 183 for 915,000 oz.
To obtain what is left to be served upon I take the OI for June ( 172) and subtract out the deliveries for today (zero) which leaves us with 172 notices or 860,000 oz
Thus the total number of silver oz standing in this non delivery month is as follows:
915,000 oz (already served) + 860,000 oz (to be served) = 1,775,000
we had 1700,000 oz on Friday so we gained back what we lost on Friday.
end
Let us now proceed to our ETF's SLV and GLD and then our
physical gold and silver funds:
Sprott and Central Fund of Canada.
The two ETF's that I follow are the GLD and SLV.
You must be very careful in trading these vehicles as these
funds do not have any beneficial gold or silver behind them.
They probably have only paper claims and when the dust settles,
on a collapse, there will be countless class action lawsuits
trying to recover your lost investment. .?.
http://harveyorgan.blogspot.com/
Great Panther Silver, Ltd. (GPL:AMEX - TSE:GPR
http://www.greatpanther.tv/
Keiser Report:
http://maxkeiser.com/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63869260
My opinions are my own and and DD I post should be confirmed as unbiased
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