Vaporize COMEX 2008-12-18

Gold: 46.5% depleted. Delivery notices today: 12,700 oz.
Silver: 44.2% depleted. Delivery notices today: 445,000 oz.

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs


comex-countdown-gold-2008-12-18

gold-data-2008-12-18

comex-countdown-silver-2008-12-18

silver-data-2008-12-18

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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46 Responses

  1. Dear Goldman Sachs,

    1) Was this physical gold in your possession (ie coins , bars)? If so who did you sell it to?
    ANSWER: Gold bars, sold them to a dealer in Thailand.

    I don’t work for anyone and I am a businessman. My theory is herein and I am interested in your thoughts because we may arrive at a conclusion. Look at the trades in gold on the comex now (pathetic) The only one trading is the the FED (Morgan Stanley). These guys are just playing with us. Anyone that enters the market and goes long is CRUSHED. Obama will revalue gold at $1,000 and they need gold as low as they can (circa: $500-$600) before this event takes place (circa:1-6 months). It cleans-up the books. This is a smoke and mirror tactic/play.

    I believe that backwardation is a fact but will have no influence on the POG because of POG manipulation on the Comex. The only way the Comex will fall is if someone has some serious money to purchase and take delivery.

  2. […] Vaporize COMEX 2008-12-18 Gold: 46.5% depleted. Delivery notices today: 12,700 oz. Silver: 44.2% depleted. Delivery notices today: 445,000 oz. […] […]

  3. Yeah I’m soooo scared and desperate. That’s why I’m calling out our corrupt government on a public message board from my work computer. Only a coward would do such a thing!

    YOU STILL HAVE NOT ANSWERED MY QUESTIONS.

    QUESTIONS
    1) Why is the COMEX depletion steadily increasing?

    2) What is the purpose and effect of the $1000trillion in outstanding BIS reported OTC derivatives? When these trades collapse, what will be the economic effect?

    3) What effect will the collapse of international trade have on the availability of urgently needed consumer goods?

    http://www.dryships.com/pages/report.asp

    4) What is the significance of the negative gold basis which occurred starting on Dec 2nd for the first time since 1971? This condition (backwardation) would normally indicate a shortage, and is unheard of in a monetary commodity. The backwardation was confirmed on the Tokyo Commodity Exchange in distant futures as well. Why did this happen?

  4. I recommend selling your physical Au if its a speculative position. Hold it if its a hedge, sell if you’re gambling; big difference from your assertation, Goldman.

    Again; Goldman, you sound scared and desperate. I hope you don’t have too much on the line with your physical holdings…its going down, my friend.

  5. –^

    The Feds and trolls recommend selling your physical. Talk about contrarian indicators…

  6. My Au physical holdings are a hedge for me, not a “get rich quick” investment. I hope my maple leafs drop by 90%, as that means I got rich on my futures contracts (long dollar/short gold). If any of you hold physical gold for ANY reason other than as a hedge, I’d get out…now.

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