COMEX Warehouse Stocks Feb 7, 2011

SILVER

212,981 ozs withdrawn from the dealer’s (registered) inventory
1,007,369 ozs deposited in the customer (eligible) inventory
Total dealer inventory 43.19 Mozs
Total customer inventory 60.12 Mozs
Combined Total 103.31 Mozs

GOLD

103 ozs withdrawn from the dealers (registered) category
59,929 ozs deposited in the customer (eligible) category
Total dealer inventory 2.93 Mozs
Total customer inventory 8.51 Mozs
Combined Total 11.44 Mozs

There were 59 Kozs of gold deposited in the customer inventory and a measly 103 ozs withdrawn from the dealer inventory. There were 0.2 Mozs of silver withdrawn from the dealer inventory and 1.0 Mozs of silver deposited in the customer inventory. The total silver inventory has returned to a “102” handle but this is desperately low for the world’s premier futures exchange and especially as there are 66K contracts open for MAR. They are doing their best to keep up appearances and stay above 100 million ozs but it must be one heck of a struggle.

There were 70 delivery notices issued in the FEB gold contract. The FEB gold delivery notice total for the month is 9,649 notices or 964,900 ozs.

There were 12 delivery notices issued in the FEB silver contract. The FEB silver delivery notice total for the month is 203 or 1.0 Mozs.

The OI in FEB gold decreased to 1,230 contracts which together with the issued delivery notices means that the potential for delivery is 1.1 Mozs or 38% of the registered inventory. The silver MAR open interest decreased slightly to 66,540 contracts; the cartel has a big problem in silver delivery coming their way!
Cheers
Adrian