Urgent/COMEX data: we are having a HUGE silver bank run at the COMEX! Ladies and Gentlemen: we are having an old fashioned BANK RUN but instead of paper money being removed, it is silver:
Submitted by Harvey Organ:
Let us head over to the comex: The total gold comex open interest rose from 415,700 up to 417,079 for a gain of 1379 contracts despite the fact that gold was down $11.60 with respect to yesterday’s trading. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month, and 2) a continual drop in the amount of gold standing in an active month, and today only the first of these developments continued in earnest. (contraction of total OI) . The amount standing on second day notice did decline but not by much as you soon see. The new active delivery month we enter is October and here the OI fell by 261 contracts down to 2831. We had 121 notices filed yesterday so we only lost 140 contracts or 14,000 oz will not stand for delivery. Lately we have been witnessing much more leave, no doubt to cash settlements. The November contract fell by 7 contracts down to 155.The big December contract saw it’s OI rise by 23 contracts from 290,517 up to 290,540. The estimated volume on today (which is just comex sales during regular business hours of8:20 until 1:30 pm est) was estimated at 75,892 which is poor. The confirmed volume on yesterday (which includes the volume during regular business hours + access market sales the previous day was poor at 163,402 contracts.
Today we had 5 notices filed for 500 oz.
And now for the wild silver comex results. Silver OI rose by 720 contracts from 156,905 up to 157,625 despite silver being down by 5 cents with respect to yesterday’s price . Since October is not an active month, we will not see a huge contraction in the OI. The bankers continue to pull their hair out trying to extricate themselves from their silver mess (the continued high silver OI with it’s extremely low price, combined with the banker’s massive physical shortfall) as the world senses something is brewing in the silver arena. We enter the October contract month which saw it’s OI fall by 11 contracts from 58 down to 47. We had 11 contracts filed yesterday so we neither lost nor gained any contracts standing for delivery. The next non active delivery month of November saw it’s OI remain constant at 41.
The big December contract saw its OI rise by 70 contracts up to 117,003. The estimated volume today was estimated at 20,893 contracts (just comex sales during regular business hours) which is poor. The confirmed volume yesterday (regular plus access market) came in at 40,969 contracts which is good in volume.
We had 9 notices filed for 45,000 oz.
October contract month:
Initial standings
Oct 1.2015
Gold
Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz nil 2199.25 oz
Scotia
Deposits to the Dealer Inventory in oz nil
Deposits to the Customer Inventory, in oz 300.245 oz
Delaware
No of oz served (contracts) today 5 contracts
500 oz
No of oz to be served (notices) 2826 contracts
282,600 oz
Total monthly oz gold served (contracts) so far this month 126 contracts
(12,600 oz)
Total accumulative withdrawals of gold from the Dealers inventory this month nil
Total accumulative withdrawal of gold from the Customer inventory this month 2199.25 oz
Today, we had 0 dealer transactions
Total dealer withdrawals: nil oz
we had 0 dealer deposits
total dealer deposit: zero
We had 1 customer withdrawals:
i) Out of Scotia: 2199.25 oz
total customer withdrawal: 2199.25 oz
We had 1 customer deposit:
i) Into Delaware: 300.245 oz
Total customer deposit: 300.245 oz
***extremely unusual to have no activity of gold on second day notice especially with 9.18 tonnes of gold standing for delivery.
JPMorgan has a total of 10,777.279 oz or.3352 tonnes in its dealer or registered account.
JPMorgan now has 741,559.509 oz or 23.06 tonnes in its customer account.
Today, 0 notices was issued from JPMorgan dealer account and 57 notices were issued from their client or customer account. The total of all issuance by all participants equates to 5 contracts of which 1 notice were stopped (received) by JPMorgan dealer and 0 notices were stopped (received) by JPMorgan customer account.
To calculate the final total number of gold ounces standing for the Oct contract month, we take the total number of notices filed so far for the month (126) x 100 oz or 12,600 oz , to which we add the difference between the open interest for the front month of Oct. (2831 contracts) minus the number of notices served upon today (5) x 100 oz x 100 oz per contract equals the number of ounces standing.
Thus the initial standings for gold for the Oct. contract month:
No of notices served so far (126) x 100 oz or ounces + {OI for the front month (2831)– the number of notices served upon today (5) x 100 oz which equals 295,200 oz standing in this month of Oct (9.1819 tonnes of gold. This amount is higher than the registered for sale gold sitting at the gold comex. The amount standing is very good for generally a weak delivery month of October. We thus have 9.1819 tonnes of gold standing and only 5.0277 tonnes of registered gold (for sale gold/dealer gold) waiting to serve upon those standing.
Total dealer inventory 161,642.608 oz or 5.0277 tonnes
Total gold inventory (dealer and customer) =6,850,580.604 or 213.08 tonnes) Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 213.14 tonnes for a loss of 90 tonnes over that period.
The comex continues to slowly bleed out of gold both at the dealer (registered) side of things and the customer side.
end
And now for silver
October silver Initial standings
Oct 1/2015:
Silver
Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory 1,051,571.945 oz
Brinks,Delaware,HSBC
Deposits to the Dealer Inventory nil
Deposits to the Customer Inventory 290,297.645 oz (Delaware,CNT)
No of oz served (contracts) 9 contracts (45,000 oz)
No of oz to be served (notices) 38 contracts (190,000 oz)
Total monthly oz silver served (contracts) 20 contracts (100,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month nil oz
Total accumulative withdrawal of silver from the Customer inventory this month 2,291,395.0 oz
Today, we had 0 deposit into the dealer account:
Today, we had 0 deposit into the dealer account:
total dealer deposit; nil oz
we had 0 dealer withdrawals:
total dealer withdrawal: nil oz
We had 2 customer deposits:
i) Into Delaware: 13,040.645 oz
ii) Into CNT: 277,257.000 oz ????? exactly!! xxx.000
total customer deposits: 290,297.645 oz
We had 3 customer withdrawals:
i) Out of Delaware: 1,001.000 oz (yesterday we had a deposit at Delaware/today it was removed)
ii) Out of Brinks: 450,203.990 oz
iii) Out of HSBC: 600,366.955 oz
total withdrawals from customer: 1,051,571.945 oz we had 2 adjustments
i) Out of CNT:
790,524.940 oz was adjusted out of the dealer of CNT and this landed into the customer account of CNT
ii) Out of Brinks:
5,000.000 oz (exactly) was added into the Brinks dealer account as there was some sort of counting error. the farce continues.
Total dealer inventory: 43.745 million oz
Total of all silver inventory (dealer and customer) 164.252 million oz *
The total number of notices filed today for the September contract month is represented by 9 contracts for 45,000 oz. To calculate the number of silver ounces that will stand for delivery in Oct., we take the total number of notices filed for the month so far at (20) x 5,000 oz = 100,000 oz to which we add the difference between the open interest for the front month of September (47) and the number of notices served upon today (9) x 5000 oz equals the number of ounces standing.
Thus the initial standings for silver for the Oct. contract month:
20 (notices served so far)x 5000 oz +(47) { OI for front month of September ) -number of notices served upon today (9} x 5000 oz ,=290,000 oz of silver standing for the Oct. contract month.
we neither gained nor lost any silver ounces standing in this non active delivery month.
the comex resumes its huge liquidation of silver from customer inventory and a decline in gold from the dealer side of things (registered)
*** Ladies and Gentlemen: we are having an old fashioned bank run but instead of paper money being removed, it is silver.