The drawdown in COMEX Registered silver inventories continued Monday, as Brink’s today reported an adjustment of 1.5 million ounces of silver out of registered vaults and into eligible vaults, bringing the total COMEX REGISTERED inventories under 30 million ounces for the first time since last summer.
(For a description of the significance of registered silver inventories vs. eligible, please see our review of the topic here)
COMEX WAREHOUSE SILVER INVENTORY UPDATE 4/10/12
*Brink’s reported a withdrawal of 259,832.160 ounces out of eligible vaults
*Brink’s also reported an adjustment of 1,542,904.930 ounces out of registered vaults, and into eligible vaults
*Delaware reported a deposit of 977.500 ounces into eligible vaults
*Delaware also reported an adjustment of 30 ounces out of registered vaults
*HSBC reported a withdrawal of 188,661.500 ounces out of eligible vaults
*Scotia Mocatta reported a withdrawal of 986.850 ounces out of eligible vaults
*NO Changes for JP Morgan
*Total COMEX REGISTERED Silver declined a net 1,542,934.930 ounces to 29,302,649.795 ounces- the first time in months we have seen registered inventories below 30 million ounces
*TOTAL COMEX ELIGIBLE Silver increased to 110,308,238.305 ounces
*TOTAL COMEX Silver declined to 139,610,888.100 ounces
While the CME is now reporting inventory levels to 3 decimal places, strangely enough- once again, NO MENTION FROM THE CME OF THE MISSING 1.4 MILLION OUNCES OF REGISTERED SILVER THAT SIMPLY DISAPPEARED IN THE AFTERMATH OF THE MF GLOBAL BANKRUPTCY!
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
*Registered ounces of metal currently not available for delivery
as of 11/4/11 due to MFGI bankruptcy. Included in above totals.
| DEPOSITORY | Registered |
| Brinks | 210,320 |
| Delaware | 65,706 |
| HSBC | 793,734 |
| Scotia Mocatta | 351,156 |
TOTAL 1,420,916
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Interesting.. physical supply must be getting tight again..
With these ever decreasing prices, I can see supply really tighten up !!!
Keep Stacking! Every ounce counts!
If physical supply is getting tight then that means the price of silver should go up soon! Still thinking about what I should buy, 1 oz of silver or 25$ in face value copper pennies? By the way, Canada is removing pennies from circulation.
Also, Is everyone else experiencing this problem on SD Reader Forum? Whenever I want to publish a topic or a reply to a topic, the box where you type won’t work cause it won’t appear. I tried to refresh and it used work but now it doesn’t.
Total inventory is still well above (~ 40%) inventory levels last summer, which saw inventories briefly drop under 100 million ounces. Registered inventories fell as low as 25 million ounces last summer if I recall correctly….when the vaults looked like this:
PS- Sumkid: our developers are currently active on our site attempting to work out a few bugs/ glitches tonight, so bear with us and hopefully things will be back to normal by tomorrow.
Doc From what I can see in this situation, registered silver can’t be claimed from the vaults. It is the property of an owner. The registered silver can be claimed so if there is even a perceived as opposed to actual shortage, the physical supplies in these vaults could be claimed quickly, depleting the supply and causing a rush for anything available in the market, and at a much higher price. Or so it seems.
Just got back on line. The new site is awesome. Way easier on the eyes.
@The Doc
Good luck at fixing the bugs! I’ll start a topic about copper pennies and about a breaking news about the Canadian mint that wants digital currency and remove physical currency.
what would a honest conservative price silver should bve sitting at with the rareity and all?
NOT exprcting much action in silver for another few months–Keep Stacking!
@Sumkid – Don’t neuter me bro! /jk
Keep stacking!!! Physical shortage would force the price higher, I can’t see how it wouldn’t…. Plus i wish I had these kind of numbers in my stash… Maybe one day…