COMEX Warehouse Stocks Nov 22, 2010 SILVER

362,680 ozs withdrawn from the dealer’s (registered) inventory
138,256 ozs deposited in the customer (eligible) inventory
Total dealer inventory 49.18 Mozs
Total customer inventory 58.59 Mozs
Combined Total 107.77 Mozs

GOLD

ZERO ozs withdrawn from the dealers (registered) category
14,273 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.65 Mozs
Total customer inventory 8.73 Mozs
Combined Total 11.38 Mozs

In gold there were 14Kozs withdrawn from the customer inventory. In silver 0.36 Mozs were withdrawn from the dealer inventory and 0.14 Mozs were withdrawn from the customer inventory. The total Comex silver inventory now has “107” handle again; the overall inventory level remains dangerously low.

The Open Interest for DEC silver is currently 48,952 contracts which is 245 Mozs (this barely decreased 40 contracts from the prior session!). In gold the Open Interest in DEC is 235,323 which is still very high and equivalent to 23.5 million ozs…and is ten times what the dealers hold as registered inventory. These positions must be sold, rolled or fully paid for by 11/29. With the massive open interest in DEC and the massive option open interest I fully expect the cartel to attempt another bear raid before the close on Tuesday. If the cartel can not manage to bash the metals this will indicate they are seriously losing control.

The Comex failed to update the delivery notice information today.

The NOV gold delivery notice total for the month is 1140 notices or 114,000 ozs.

The total delivery notices for the month in silver stand at 792 or 3.96 Mozs.
Cheers
Adrian