Is something afoot in Comex silver?

There have been unbelievable movements in silver at the comex recorded yesterday and today:



On Friday I reported that after weeks of zero movement in the dealer silver inventory SUDDENLY out of the blue 2.4 Million ozs of silver were withdrawn! That is 75 tons in a single day. What is even more intriguing is that 4.1 Mozs were apparently deposited in the customer inventory making the total silver inventory movements 204 tonnes for the day. Now today there is another gobsmacking volume of silver inventory movement. 4.45 Mozs of silver were withdrawn from the dealers’ inventory and 4.56 Mozs were deposited in the customer inventory. This is most unusual considering the total delivery notices for January are only 0.94 Mozs. What is shocking is the massive drain in just two days on the dealer inventory has plunged their holdings to a mere 47.5 Mozs. This is only sufficient silver to deliver on 9500 contracts. There is certainly something serious going on with silver. For the inventory level not to change during weeks and then in just two days drop by 7 Mozs, or 13%, is nothing short of incredible, especially in a low delivery month.





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I would like to point out that january and Feb are non delivery months in silver. Movement out of dealer inventory cannot be explained. The shear number of oz of 4.45 million oz in one day is just not belieable. You would need over 60 Brinks armed trucks.



The inventory of the dealers is now down to 47.5 million oz. Normally the inventory is greater than 110 million oz of silver.



I have no answer for you but something is up!!