Vaporize COMEX 2008-12-16

Gold: 45.7% depleted. Delivery notices today: 23,200 oz.
Silver: 38.2% depleted. Delivery notices today: 0 oz. (yes, zero)

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs

comex-countdown-gold-2008-12-16

gold-data-2008-12-16

comex-countdown-silver-2008-12-16

silver-data-2008-12-16

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 delivery notices this month,
2) the ounces of “registered” metal available for delivery,
The percentage shown is based on the cumulative physical metal delivery notices 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:
gold: http://cmegroup.com/trading/energy-metals/files/Gold_Stocks.xls
silver: http://cmegroup.com/trading/energy-metals/files/Silver_Stocks.xls
[2] COMEX precious metals daily delivery notices: http://cmegroup.com/trading/energy-metals/files/delivery.pdf

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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47 Responses

  1. James Assmore,

    You are a certifiable moron. I just LOVE reading posts from dummies like you who have hardly any net-worth, live in a trailer, and who likes to TALK ALL BIG AND TOUGH on blogs to make yourself feel important.

    You’re a joke, man; go watch some more daytime TV, Dummy.

  2. I have just entered the gold business in a a big way and have done a lot of research about all things pertaining to gold. There are so many stories flying around it is hard to know what to believe. I am based in Thailand at the moment. I have not met anyone here that has made the money I have made since I arrived here 3 years ago. I arrived here with ZERO and prior to this was ripped off by a woman in Australia for everything. I was a Millionaire in Australia and have restored my FINANCIAL STATUS here in Thailand. I dont give ground and only take it. What I have learnt in my 44 years is that people all over the world are the same. I have sat with Prime Minister of countries before only to find out that they are basically idiots. You can think people are intelligent and after investigation find out otherwise. Most people have no idea. I think this is the same in this industry. There is a lot of hearsay. If you want to discover the truth you have to get the crux of the matter. The crux of the matter is the gold price is manipulated and who ever is doing it cannot be beaten. The only way to beat them is to introduce a pricing index that reflects the true price of gold and have it endorsed by Pricewaterhouse Coopers etc. GATA should seek donations from individuals and or entities who are of the same belief. If you think for 5 minutes that deliveries in December won’t happen you are a fool. Wall street is a joke and they have basically manipulated all the money in existance directly and indirectly under the umbrella of their government who has reserve currency status. A lot of business entities are going to collapse or merge in the future and the US will always have the answers. You basically have to go with it and try and carve out your nest egg on that basis OR you can stand-up and be counted. The GLOBAL press is a joke and dont promote the truth. They are the opium of the masses. The US government could not let Citibank fail because that would have sent a bad signal to the world. The same goes for gold. A low POG is the opium of FIAT currencies. THE COMEX is now controlled by the FED through Morgan Stanley. The price movements you see are the boys at Morgan Stanley hard at work. They are also making a lot of money shorting gold and keeping the price in check. These lunatics with their charts and equations just don’t get it. This is not supply and demand it is manipulated supply and demand. Why did oil prices drop so conviently? Low oil prices = more disposable income for consumers to spend. Yes, another manipulation. Iran has a hell of a lot of gold and the last thing the US needs is for those guys to get rich and go full throttle on a uranuim enrichment program with their new found wealth. The POG might keep trading at these prices or our mates at the FED might give us all the scare of our life and send the price of gold to below US600.00. It is for that reason that you have to read this market carefully. It is very dangerous. The US will stop at nothing to restore the FIAT currencies and international banking system to some type of stability. The US has a WE CAN DO mentality and they really dont care who gets burnt. No one talks about Iceland that much anymore. No one really talks about the Ukraine and how it will probably collapse. The Russians are withdrawing all their money from banks and buying anything of value as I type. Remember that real people live in these countries just like you and me. If China does not devalue the Yuan their country will be in crisis. China is not happy at the moment and as I see it they are going to devalue the Yuan by 35% and kill all manufacturing that is not done in China. This means goodby Europe and good by USA. What might happen is GOLD will become the reserve currency indirectly but you have to have the stomach for the COMEX until this eventuates. Lies usually catch up with people or entities. A lot to think about.

  3. A $17 drop in five minutes, huh? Last time that happened was when Lehman went down…

  4. Hi James,

    I loked the charts and still, manipulation is the only resaon I see to the decline of gold.

    The day is not over yet. This could mean a buy signal or stronger demand for delivry.

    Well, I hope so.

  5. I just watched the price of Gold fall from US$877 to $US860 (9:35am New York time, 18 December 2008) in about 5 minutes. These markets need to be regulated. I also believe that a better system needs to put in place to price gold. Shorts and longs dictating the price of gold and no one taking delivery (small percentage historically).?
    Whats right with this system? ZERO. GATA have tried to do something about this but in my eyes they have not done enough. They should be working towards a new pricing system and introducing that to the market and if you want to sell gold at the manipulated price its up to you.

  6. […] Vaporize COMEX 2008-12-16 Gold: 45.7% depleted. Delivery notices today: 23,200 oz. Silver: 38.2% depleted. Delivery notices today: 0 oz. (yes, […] […]

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