Vaporize COMEX 2008-12-05

Last update: Mon 12/8/2008, 1:11pm CST (latest warehouse levels).

Link to all Vaporize COMEX posts:
Vaporize COMEX CountDOWN

Latest:  Paid COMEX Informant?

From the comments:
comment-eric

TZO & Eric

Regarding “confusion between “physically delivered metal” and a contract that was “stopped for delivery”….. ”

Unfortunately, I’m just a monkey with a keyboard. I kept hearing about “Busting COMEX” but couldn’t find any info on WHEN we would know it would happen.

After some research I found the COMEX delivery and warehouse inventory reports. I decided to graph these. Honestly, I don’t know if this info will truly indicate an imminent default. I haven’t found anything better data-wise.

Does anyone know the answer to this? Is there a better source for data?

Please let me know.
sgsig_blk

COMEX gold & silver price manipulations are bashing precious metals investors, miners and shareholders. Now it’s time to fight back by Busting COMEX

comex-countdown-gold-2008-12-05

Cumulative COMEX Gold Deliveries:
Nov 28 – 860,000 oz vs inventory of 2,855,567 oz. (30.1%)
Dec 1 – 1,116,600 oz vs inventory of 2,908,224 oz. (38.4%)
Dec 2 – 1,147,300 oz vs inventory of 2,908,024 oz. (39.5%)
Dec 3 – 1,175,800 oz vs inventory of 2,918,028 oz. (40.3%)
Dec 4 – 1,189,000 oz vs inventory of 2,918,028 oz. (40.7%)
Dec 5 – 1,216,400 oz vs inventory of 2,918,028 oz. (41.7%)
Dec 8 – TBD
Dec 9 – TBD
Dec 10 – TBD
Dec 11 – TBD
Dec 12 – TBD
Dec 15 – TBD
Dec 16 – TBD
Dec 17 – TBD
Dec 18 – TBD
Dec 19 – TBD
Dec 22 – TBD
Dec 23 – TBD
Dec 24 – TBD
Dec 26 – TBD
Dec 29 – TBD [Final notice day]

 comex-countdown-silver-2008-12-05

Cumulative COMEX Silver Deliveries:
Nov 28 – 15,200,000 oz vs inventory of 80,749,083 oz. (18.8%)
Dec 1 – 17,600,000 oz vs inventory of 80,639,774 oz. (21.8%)
Dec 2 – 24,070,000 oz vs inventory of 80,239,857 oz. (30.0%)
Dec 3 – 26,035,000 oz vs inventory of 80,239,857 oz. (32.4%)
Dec 4 – 26,285,000 oz vs inventory of 80,244,971 oz. (32.8%)
Dec 5 – 27,330,000 oz vs inventory of 80,234,544 oz. (34.1%)
Dec 8 – TBD
Dec 9 – TBD
Dec 10 – TBD
Dec 11 – TBD
Dec 12 – TBD
Dec 15 – TBD
Dec 16 – TBD
Dec 17 – TBD
Dec 18 – TBD
Dec 19 – TBD
Dec 22 – TBD
Dec 23 – TBD
Dec 24 – TBD
Dec 26 – TBD
Dec 29 – TBD [Final notice day]

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 physical metal to settle contract obligations *could* be the spark that ignites the long-awaited precious metals wildfire.

Explanation:
COMEX warehouses contain both “registered” and “eligible” metals. The “registered” metals are available for physical delivery. The “eligible” metals are not ready for delivery until they become “registered.” Although this pool of “eligible” metals is stored at COMEX warehouses there is no obligation to “register” these metals for subsequent physical deliveries.

The graph shows:
1) the cumulative ounces of metal delivered this month,
2) the ounces of “registered” metal available for delivery,
3) the ounces “eligible” for registration.
The percentage shown is based on the cumulative physical metal deliveries for the month against the “registered” amount of metal in COMEX.

Sources:
[1] COMEX precious metals warehouse stocks: http://www.nymex.com/warehouse.aspx
[2] COMEX precious metals daily deliveries: http://www.nymex.com/media/delivery.pdf
[3] “Zed”, “nofear”, “DaveInDenver” and “Kaboom” from blog comments. Thanks, guys! 

More info:
Gold: Is This It, NOW?
Attack of COMEX Gold & Silver
How 2 Track COMEX Deliveries
Sinclair Sez “Help Me Bust Comex”
This Guy Plans 2 Kill “Paper” Silver

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2 Responses

  1. Can we all unpanic now?

  2. Vaporize COMEX 2008-12-05 « Meltdown 2011…

    If COMEX runs out, the ensuing rush to grab physical metal to settle contract obligations *could* be the spark that ignites the long-awaited precious metals wildfire. Explanation: COMEX warehouses contain both “registered” and ……

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