COMEX Warehouses in Trouble?

Since I started tracking COMEX gold and silver warehouse levels last November I’ve grown to be very suspicious of the numbers COMEX reports each day. In spite of increased physical deliveries in both metals, “registered” inventory levels remain more or less stable. This is why I gave up daily updates in favor of weekly ones; I [...]

Reader Asks, “What’s So Hard About Busting COMEX?”

Here’s a good question from a reader, “Mike“: Scott, I have been following your website for some time along with Sinclair and enumerable others. I think you do a great job and I find your musings incredibly infromative. I’ve never traded futures on the comex but this whole comex cracking/failure to deliver thing puzzles me [...]

Gold/Silver Manipulation Over in 30 Days?

If you’ve been a precious metals investor for more than six months you’ve heard about the rampant price manipulation on COMEX. (COMEX sets the cash price for gold and silver through its daily futures and options trading activity.) Many of us have been waiting for the illegal manipulation (run primarily by Bear Stearns until March [...]

Charts: COMEX Gold & Silver

Here are the latest COMEX gold and silver inventory charts. Inventory levels are expressed in millions of ounces: gold at 2,926,697  oz; silver at 70,068,085 oz.     See also: COMEX Crimes: Your Tax $ at Work

Is COMEX Cracking? Finally?

Many of us, myself included, thought COMEX silver might go bust last December. It inspired me to start tracking COMEX silver deliveries, thinking shortages may show up there first. [Vaporize COMEX countDOWN] COMEX fooled me. [Gunther Asks If I’m an Idiot] Most “deliveries” were not physical deliveries depleting COMEX’s metal reserves. They were really just moving a [...]

COMEX Crimes: Your Tax $ at Work

Check out Ted Butler’s (one of my heroes) latest column. He asks some great questions… (I’ve edited together some excerpts below.) BTW: Notice how you can never buy silver or gold at the spot price anymore? It’s always at least 15% above spot price IF you can find it? Remember this: before March 2008 (when [...]

Chart: COMEX Silver Inventory

NOTE: Latest COMEX Silver Inventory chart is to the right, in the sidebar. For what it’s worth, here’s a chart showing COMEX Silver Inventories since the end on November, 2008. (If you can’t see it click the title of the post above.) Notice the severity of depletion is nothing close to what I thought had [...]

Chart: COMEX Gold Inventory

NOTE: Latest COMEX Gold Inventory chart is to the right, in the sidebar. Here’s the latest COMEX Gold Inventory chart. (If you can’t see it click the title of the post above.) Please, let me be the first to call myself an idiot. No, I insist! Really. In the previous “Vaporize COMEX” charts I plotted the [...]

Vaporize COMEX 2008-12-30

Final numbers for December Gold/Silver: Gold: 48.1% depleted. Delivery notices today: 11,400 oz. (but 20,000 oz added to inventory) Silver: 46.5% depleted. Delivery notices today: 155,000 oz. No Bust, No Joy: but we got almost half-way there! We’ll try again starting Feb 2009. Link to all Vaporize COMEX posts:     COMEX trades hundreds of times more gold & [...]

Vaporize COMEX 2008-12-29

Gold: 48.1% depleted. Delivery notices today: 5,200 oz. Silver: 46.3% depleted. Delivery notices today: 5,000 oz.   Link to all Vaporize COMEX posts: COMEX trades hundreds of times more gold & silver than they actually possess. If enough investors demand delivery of PHYSICAL gold & silver COMEX stockpiles will be depleted. If COMEX runs out, the ensuing rush to grab [...]