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

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8 Responses

  1. Yeah I guess Professor Antal Fekete , one of the greatest monetary theorists of the past three hundred years, isn’t really a credible source when it comes to COMEX on the verge of bankruptcy. In fact, Richardgwn , can you please educate me on trading the futures basis? You seem so fail I would hate to pass up the opportunity to learn from a jackass with a double digit IQ.

  2. WOW! I am surprised this site is still up. Haven’t you yet realized you have no understanding of how futures settlement works. Your delusion of a COMEX default is amusing.

  3. Outlook for 2009: It’s All About Credit Default Swaps
    This time last year, we put down a marker regarding what we expected to be the issues for 2008, namely the collapse of the housing bubble and the related slide in the US economy. Today we make another prediction: that the unwind of Wall Street’s rancid leverage pile will dominate the economic and political scene in 2009, both in the US and around the world. The chief engine of that deleveraging will be CDS, the vast, unregulated market in leveraged bets fostered and encouraged over two decades by former Fed Chairman Alan Greenspan and the academic economists who populate the Fed staff in Washington.

    Must read the rest of this at: http://news.kontentkonsult.com/
    CDS will have huge effect on PM markets.

  4. I attended the Financial Vortex III conference this past weekend and I showed the Silver expert there (David Morgan from http://www.silver-investor.com) this information. He said that just because people REGISTER to accept delivery that doesn’t mean they actually accept it, therefore this information is untrue. Can you check this out?

  5. Its just a matter of time before the PAPER MONEY CLOWNS lose control of the GOLD and SILVER WINDOW. By controlling the PRICE of GOLD, thru the COMEX GOLD WINDOW, the LARGE PLAYERS have been able to also control the price of OIL. When the COMEX GOLD goes into DEFAULT and closes…..OIL will no longer be able to be purchased with DOLLARS.

    This will spend the END of the GREAT AMERICAN EMPIRE. As the USA has an addiction to oil 2/3rds greater than what it produces. The Fight on the COMEX GOLD FRONT is not just about GOLD or the US DOLLAR, but also about the CONTROL OF the PRICE of OIL….as OIL runs the MODERN WORLD as we know it.

  6. Great, thanks again !

    This is fun to watch.

  7. thanks!!!! i’ve been looking for a comex default tracker since nov 28.

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