COMEX Warehouse Stocks June 23, 2010

MASSIVE SILVER DRAIN CONTINUES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
340,500 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 51.88 Mozs
Total customer inventory 63.34 Mozs
Combined Total 115.22 Mozs

GOLD

2,500 ozs deposited in the dealers (registered) category
891 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.64 Mozs
Total customer inventory 8.21 Mozs
Combined Total 10.85 Mozs

There were only paltry movements of gold into or out of the Comex. In silver the massive drain of inventories continues, 0.34 Mozs of silver were withdrawn from the customer inventory and an internal “adjustment” transferred 0.2 Mozs of silver from the dealer inventory to the customer inventory.

There were 140 delivery notices issued in the JUN gold contract. The JUN gold delivery notice total for the month is 20,435 notices or 2,043,500 ozs. JPM issued 0 and stopped 114, Deutsche Bank issued none and stopped 17, while BNS issued 127 and stopped 0.

There was 1 delivery notice issued in the JUN silver contract. The total delivery notices for the month in silver stand at 40 or 0.2 Mozs.

There is 0.5 cents of contango in silver JUN/JUL and 5.0 cents JUN/SEP. In gold there is $0.1 contango JUN/JUL and $0.4 JUN/AUG.

The open interest in JUN gold is 289 contracts or 0.03 Mozs. With the delivery notices issued the total gold standing for delivery could be 2.1 Mozs or 79% of the dealer inventory!
Cheers
Adrian