Vaporize COMEX 2008-12-10

Last update: Wed 12/10/2008, 4:49 pm CST.
Gold: 43.0% depleted. Delivered today: 13,900 oz.
Silver: 37.1% depleted. Delivered today: 140,000 oz.

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs

Latest:  
COMEX: Taking Delizery Is EZ
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-2008-12-10

 gold-data-2008-12-10

 comex-countdown-silver-2008-12-10

silver-data-2008-12-10

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,
The percentage shown is based on the cumulative physical metal deliveries for the month against the “registered” amount of metal in COMEX.
“Eligible” metal inventories are not shown as they do not have a direct bearing on the inventory depletion ratio.

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
COMEX: Taking Delizery Is EZ

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8 Responses

  1. I would love to see an update! Great Article on the Gold Market

  2. anomaly,

    LOL we warped minds must think alike…

  3. I’ve heard that once you go black…

  4. Jim: Tell me what you REALLY think about my choice of colors:

    https://meltdown2011.wordpress.com/2008/12/11/vote-i-h8-yer-site-cuz-the-color-sux/

  5. Why the hell do some people think that a black background is so damn sexy when it is so hard to read? I cannot even read the box labels above and whatever might be interesting on this mistive is not worth the effort.

  6. 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.
    This is huge…must read!

  7. Mine are still here . I think. Lemme check…. yup.

  8. What happened to all the nuts?

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