Is JP Morgan preparing for an imminent onslaught of silver longs standing for delivery in September???
Just yesterday we reported that on Monday JP Morgan adjusted 19,003 ounces of silver from eligible supplies into registered vaults- the VERY FIRST OUNCES OF SILVER ever to appear in JPM's registered vaults.
In today's CME warehouse silver inventory report, JP Morgan adjusted another 781,915 ounces of eligible silver into their registered vaults yesterday- nearly ALL of their eligible silver supply!
Is JP Morgan gearing up for the Wynter Benton group (or any other trader with just $1.3 Billion) demanding delivery in September of the remaining 32.75 million ounces of silver in the COMEX?
COMEX SILVER INVENTORY REPORT 8/24/2011
*Brink's had a small withdrawal of 1,006 ounces from eligible vaults
*The Delaware Depository had a small withdrawal of 9,009 ounces from eligible vaults
*HSBS had a small withdrawal of 4,990 ounces from eligible vaults
*JP Morgan adjusted nearly all of their eligible silver (781,915 ounces out of 962,160 total) into REGISTERED VAULTS
*Scotia Mocotta had a large withdrawal of 630,512 ounces from eligible vaults.
*TOTAL COMEX REGISTERED SILVER Inventories increased by JPM's 781,915 ounces to 33,538,485 ounces
*TOTAL COMEX ELIGIBLE SILVER Inventories declined to 71,732,144 ounces
*TOTAL COMEX SILVER INVENTORIES declined to 105,270,629 ounces.