COMEX Warehouse Stocks July 16, 2010

MASSIVE DRAIN OF COMEX SILVER INVENTORY CONTINUES

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
923,430 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 52.44 Mozs
Total customer inventory 58.44 Mozs
Combined Total 110.89 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
127 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.66 Mozs
Total customer inventory 8.38 Mozs
Combined Total 11.04 Mozs

There were almost a paltry 127 ozs of gold withdrawn from the customer inventory. In silver the massive inventory drain continues; 0.92 Mozs of silver were withdrawn from the customer inventory.

There were 31 delivery notices issued in the JUL gold contract. The JUL gold delivery notice total for the month is 694 notices or 69,400ozs.

There were 8 delivery notices issued in the JUL silver contract. The total delivery notices for the month in silver stand at 1869 or 9.3 Mozs.

The open interest in the JUL silver contract stands at 707 contracts or 3.5 Mozs. This open interest along with the issued delivery notices gives the potential standing for delivery of 12.8 Mozs which is 25% of the dealer inventory.
Cheers
Adrian