Vaporize COMEX 2008-12-19

Gold: 46.6% depleted. Delivery notices today: 3,600 oz.
Silver: 44.5% depleted. Delivery notices today: 95,000 oz.

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs

comex-countdown-gold-2008-12-19

gold-data-2008-12-19

comex-countdown-silver-2008-12-19

silver-data-2008-12-19

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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24 Responses

  1. Interesting.. I’m gonna take a look…

  2. Good stuff! very intersting

  3. Of course they can make everyone whole, in dollars, that is. Apparently they could pull the TARP over anyones eyes so why not here. But the point is why even bother buying gold if you buy gold you never see touch or audit.

    Every scenario where gold goes up more than it has will have the government in a total panic. Confiscation or asset freezing will occur through new laws or taxes. They will try to ‘fix’ it. No government sympathy, no enforcement on paper contracts when you need the money the most. Not to mention many courts are already delaying cases to save money. I’d bet you a dollar Comex gold delivery will not be a priority on the docket.

    The default would expose the lie. Anyone who thinks they ‘have’ gold is mistaken and that would prove it.

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