ZERO ozs withdrawn from the dealer’s inventory.
993 ozs withdrawn from the customer inventory
Total dealer inventory 62.96 Mozs,br> Total customer inventory 52.71 Mozs
Combined Total 115.67 MOZ
10000 ozs deposited in the dealers (registered) category
96 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.69 Mozs
Total customer inventory 5.9 Mozs
Combined Total 8.59 MOZ
Silver was trading in backwardation today. It closed with the April contract having only one half of a penny of contango over MAY. The contango between April and June is 2 pennies. The contango across all contracts has reduced to very low levels. This implies significant shortage of physical silver yet only one bar was taken out of the COMEX today…hmmm! In gold the warehouse stocks are also comatose and have been for months. Almost no gold moves in or out in volume. There have been 8.5Mozs of inventory for yonks yet GLD is supposedly taking delivery from somewhere on a daily basis quantities of gold that get close to being all the gold mined in the world on any given day! Gold also traded in backwardation today yet the dealers received 10,000 ozs and customers withdrew a piddlin’ 96 ozs…one gold bar!
I am now starting to suspect the reporting from the COMEX warehouses. It starts to smell of being Enronized. Things just don’t jive. This makes me think that the massive squeeze in gold and silver will come out of nowhere because the warehouse numbers are false. How can gold trade in backwardation and the warehouse stocks not have changed for months?