Market Curiosity: Exploring Markets And Systems

December 7, 2008

Declining gold and silver inventories?

Filed under: Just Watching — Tags: , — Jeff Fitzmyers @ 7:06 am

Dan Norcini writes, “On the delivery front – another 274 [gold contracts] were taken yesterday bringing this month’s total to a very respectable 12,164 [contracts] or 1.2 million ounces. Comex is still reporting registered totals at 2.9 million so about 41% of that gold has been taken.”
http://jsmineset.com/index.php/2008/12/05/hourly-action-in-gold-from-trader-dan-24/

Please confirm the math yourself:
The NYMEX Delivery Report
The COMEX Metal Warehouse Stocks

Apparently, by the end of December, deliverable COMEX gold will be reduced by 41% and deliverable COMEX silver reduced by 33%.

If about 35% of available stuff was suddenly leaving, wouldn’t price go up A TAD?

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