COMEX Warehouse Stocks Dec 2, 2010

SILVER

174,480 ozs withdrawn from the dealer’s (registered) inventory
425,399 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 48.14 Mozs
Total customer inventory 59.25 Mozs
Combined Total 107.39 Mozs

GOLD

28,100 ozs withdrawn from the dealers (registered) category
64,025 ozs deposited in the customer (eligible) category
Total dealer inventory 3.10 Mozs
Total customer inventory 8.38 Mozs
Combined Total 11.48 Mozs

In gold there were 28 Kozs withdrawn from the dealer inventory and 64 Kozs deposited in the customer inventory; in addition10 Kozs were transferred from customer inventory to the dealer inventory the by way of an internal “adjustment”. In silver 0.17Mozs were withdrawn from the dealer inventory and a whopping 0.43 Mozs were withdrawn from the customer inventory while 0.12 Mozs were transferred from the customer inventory to the dealer inventory by way of an internal “adjustment”. There was clearly a lot of scrambling going on in silver to shuffle dwindling metal supplies.

There were 924 delivery notices issued in the DEC gold contract. The DEC gold delivery notice total for the month is 7,038 notices or 703,800 ozs.

There were 600 delivery notices issued in the DEC silver contract. The DEC silver delivery notice total for the month is 690 or 3.45 Mozs. It looks like the shorts managed to find some deliverable silver!

The Open Interest in DEC gold is 5,416 contracts which along with the issued delivery notices means the total standing for delivery could be 1.24 million ozs which is 40% of the dealer inventory. The Open Interest in DEC silver is 1,809 contracts which along with the issued delivery notices means the total standing for delivery could be12.5 Mozs which is 26% of the dealer inventory.
Cheers
Adrian