"But dealers dismissed the threat of a squeeze, pointing out that Comex gold stocks stand at 8.5 million ounces, well above the five year average of almost 6 million ounces."

That 8.5 mm value is for both registered and eligible. I have read that total registered is only 2.5 mm oz.

That is the number we should really compare against potential paper claims for december. I can go look it up if anyone is interested