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Comex Physical Silver Drops To Fresh All Time Low Of 28.8 Million Ounces, 3% Drop Overnight, 30% Drop In Six Weeks

Posted By admin On June 7, 2011 @ 3:34 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge [1]
June 7, 2011

When we first started paying attention [2]to the physical (“Registered”) silver held in COMEX warehouses on April 20 following the explosion in the silver price, the total amounted to just over 41 million ounces. As of today, a short 6 weeks later, the total physical silver held throughout the entire Comex complex, has dropped by 30% over that period. As of close today, the total amount of Registered silver is now 28,773,375 ounces, a decline of 2.9% overnight from 29,636,513. This is due to a withdrawal of physical from both Brinks and Scotia Mocatta, as well as the ongoing reclassification of 438,708 ounces of Registered into Eligible silver over at HSBC (but wait, it will revert back to Registered any moment… we promise). At this rate of withdrawal and “adjustment”, there will be no physical silver left in the entire Comex in about 5 months. At that point, even one delivery intention will send the price of silver to previously unseen levels.

Comex Physical Silver Drops To Fresh All Time Low Of 28.8 Million Ounces, 3% Drop Overnight, 30% Drop In Six Weeks  Comex%20Registered%20Silver 0 [3]

Source: COMEX [4]

Stock up with Fresh Food that lasts with eFoodsDirect (AD) [5]

Comex Physical Silver Drops To Fresh All Time Low Of 28.8 Million Ounces, 3% Drop Overnight, 30% Drop In Six Weeks  260310banner2 [6]


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URL to article: http://www.prisonplanet.com/comex-physical-silver-drops-to-fresh-all-time-low-of-28-8-million-ounces-3-drop-overnight-30-drop-in-six-weeks.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/article/comex-physical-silver-drops-fresh-all-time-low-288-million-ounces-3-drop-overnight-30-drop-s

[2] first started paying attention : http://www.zerohedge.com/article/45-scotia-mocattas-registered-silver-transferred-eligible-status

[3] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/images/Comex%20Registered%20Silver.jpg

[4] COMEX: http://www.cmegroup.com/trading/energy/files/Silver_Stocks.xls

[5] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[6] Image: http://purewaterfreedom.com/

[7] And So It Continues: Another 92 Thousand Ounces In Physical Silver Withdrawn From Comex Despite Historic Paper Collapse: http://www.prisonplanet.com/and-so-it-continues-another-92-thousand-ounces-in-physical-silver-withdrawn-from-comex-despite-historic-paper-collapse.html

[8] How The Comex Lost 20% Of Its “Registered” Silver In One Week, Or Where There’s Smoke Of A Run, There’s Probably A Run: http://www.prisonplanet.com/how-the-comex-lost-20-of-its-registered-silver-in-one-week-or-where-theres-smoke-of-a-run-theres-probably-a-run.html

[9] US Mint Sells Massive 3.9 Million Ounces Of Silver Coins In First Few Days Of 2013, Triple December’s Total: http://www.prisonplanet.com/us-mint-sells-massive-3-9-million-ounces-of-silver-coins-in-first-few-days-of-2013-triple-decembers-total.html

[10] 9,173 Ounces Of Gold Transferred From HSBC To JP Morgan Gold Vaults Overnight: http://www.prisonplanet.com/9173-ounces-of-gold-transferred-from-hsbc-to-jp-morgan-gold-vaults-overnight.html

[11] US Mint Sells Absolute Record 6.4 Million Ounces Of Silver In January, 50% More Than Previous Highest Month: http://www.prisonplanet.com/us-mint-sells-absolute-record-6-4-million-ounces-of-silver-in-january-50-more-than-previous-highest-month.html

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