Humor: 2 Protect & Swerve

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Vaporize COMEX 2008-12-09

Last update: Tue 12/9/2008, 3:29 pm CST.
Gold: 42.7% depleted. Delivered today: 3,000 oz.
Silver: 36.7% depleted. Delivered today: 390,000 oz.

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs

Latest:  
Silver Dealers: My Experiences

Now that I’m showing the “eligible” warehouse inventory numbers in the data grid below each COMEX chart, I’ve simplified the COMEX charts to show only “delivered” and “registered” inventory numbers.

comex-countdown-gold-2008-12-09

 gold-data-2008-12-09

 comex-countdown-silver-2008-12-09

silver-data-2008-12-09

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