Another day, another significant reduction in COMEX silver supplies. This cannot be good for the cartel.
Watching the COMEX slowly bleed silver is almost like shooting a 15 point buck with a BB gun and watching it bleed to death. The blood loss is slow and steady, but if it continues long enough the big buck is going down!
Tuesday saw three significant moves in COMEX silver supplies, which saw deliverable silver inventories drop to 27.7 million ounces.
COMEX Warehouse Silver Summary for 6/21/2011
*Brink's had an adjustment of 9,736 ounces from registered to eligible inventories
*Scotia Mocotta had a withdrawal of 330,618 ounces from eligible inventories
*HSBS had a HUGE adjustment of 238,499 ounces of silver from registered to eligible inventories. Someone decided their massive silver hoard is no longer for sale at current terms.
*Registered COMEX silver supplies dropped 248,235 ounces leaving only 27,720,803 ounces remaining.
*Eligible COMEX supplies dropped a net 82,380 ounces on the day down to 72,395,302
*Total COMEX silver inventory declined to 100,116,105 ounces.
