Wednesday, September 14, 2011

JPMorgan, HSBC Lose Nearly 700,000 Oz of REGISTERED Silver Yesterday

Brink's, HSBC, and JP Morgan ALL lost REGISTERED silver yesterday, with a total of over 700,000 ounces being adjusted or removed from registered COMEX vaults on the day.


*Brink's had a withdrawal of 29,129 ounces from REGISTERED vaults
*Brink's also had a 320,546 ounce withdrawal from eligible vaults
*Brink's also received a deposit of 595,613 ounces into eligible vaults

*No changes to The Delaware Depository

*HSBC adjusted 304,051 ounces out of registered vaults and into eligible

*JP Morgan adjusted 384,201 ounces out of registered vaults and into eligible

declined a net 717,381 ounces to 31,710,480 ounces
*TOTAL ELIGIBLE SILVER increased to 71,671,073 ounces
*TOTAL COMEX SILVER Inventories increased to 103,381,553 ounces

This is the first time we can recall since JP Morgan was granted a COMEX vault license that a significant amount of silver was transferred from registered to eligible.
Not exactly sure what these coinciding movements by HSBC and JP Morgan indicate, but we'll keep our eyes on it.