COMEX Warehouse Stocks Dec 1, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
11,137 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 48.20 Mozs
Total customer inventory 59.79 Mozs
Combined Total 107.99 Mozs

GOLD

ZERO ozs deposited in the dealers (registered) category
321 ozs withdrawn from the customer (eligible) category
Total dealer inventory 3.12 Mozs
Total customer inventory 8.33 Mozs
Combined Total 11.45 Mozs

In gold there were a paltry 321 ozs withdrawn from the customer inventory and 12 Kozs were transferred from the dealer inventory to the customer inventory by way of an internal “adjustment”. In silver a paltry 0.01 Mozs were withdrawn from the customer inventory while 0.17 Mozs were transferred from the customer inventory to the dealer inventory by way of an internal “adjustment”.

There were 1,098 delivery notices issued in the DEC gold contract. The DEC gold delivery notice total for the month is 6,114 notices or 611,400 ozs.

There were 34 delivery notices issued in the DEC silver contract. The DEC silver delivery notice total for the month is 90 or 0.45 Mozs. This follows the pathetically small 56 delivery notices yesterday. The writing is on the wall that the shorts do not have readily available deliverable silver. But something happened yesterday. The Open Interest in DEC silver was 5,428 which means that those were fully paid for contracts standing for delivery. Today the OI is reported as 1,945 contracts! What happened to the balance? Were the holders offered premiums to sell them? Something smells.

The Open Interest in DEC gold is 7,269 contracts which along with the issued delivery notices means the total standing for delivery could be 1.34 million ozs which is 43% of the dealer inventory. The Open Interest in DEC silver is 1,945 contracts which along with the issued delivery notices means the total standing for delivery could be10.2 Mozs which is 21.2% of the dealer inventory.
Cheers
Adrian