COMEX Warehouse Stocks Sep 08, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
533,639 ozs deposited in the customer (eligible) inventory
Total dealer inventory 54.12 Mozs
Total customer inventory 57.12 Mozs
Combined Total 111.24 Mozs

GOLD

33,186 ozs withdrawn from the dealers (registered) category
ZERO ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.53 Mozs
Total customer inventory 8.20 Mozs
Combined Total 10.73 Mozs

In gold 33kozs of gold were withdrawn from the dealer inventory. There were 0.53 Mozs of silver deposited in the customer inventory. There was a very large 2.3 Mozs of silver transferred from the customer inventory to the dealer inventory by way of an internal “adjustment”. It looks like the dealers are desperate for silver supplies.

There was 1 delivery notice issued in the SEP gold contract. The SEP gold delivery notice total for the month is 304 notices or 30,400 ozs.

There were 90 delivery notices issued in the SEP silver contract. The total delivery notices for the month in silver stand at 924 or 4.6 Mozs.

This is still a low amount of delivery notices considering there are 1621 contracts of open interest still outstanding. It continues to indicate a tightness in physical metal supplies.

The SEP silver contract Open Interest stands at 1,621. The OI together with the issued delivery notices indicate the potential amount standing for delivery could be 12.7 Mozs or 23% of the dealer inventory.
Cheers
Adrian