We have another massive silver movement to report from today's COMEX inventory update- this time a 1.2 million deposit into Brink's eligible vaults.
For those with the belief that eligible silver COMEX inventories are meaningless and only registered inventories are worth monitoring, yesterday's action by JP Morgan enforces The Doc's belief that when the rats are cornered and are in desperate need of phyzz, eligible owners will be strong armed into converting their eligible phyzz into registered in order to continue the game a little longer.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 11/17/11
*Brink's made a massive deposit of 1,196,368 ounces into eligible vaults
*Delaware had a small withdrawal of 2,028 ounces from eligible vaults
*Delaware also adjusted 60 ounces into eligible vaults from never-never land (no equal adjustment out of registered vaults reported)
*No Changes for HSBC, JP Morgan, or Scotia Mocatta
*TOTAL COMEX REGISTERED Silver Inventories were unchanged at 33,194,595 ounces
*TOTAL COMEX ELIGIBLE Silver Inventories increased to 75,095,553 ounces
*TOTAL COMEX SILVER Inventories increased to 108,290,148 ounces
A total of 1.42 million of registered ounces of silver remain unavailable for delivery due to the MF Global theft.
| *Registered ounces of metal currently not available for delivery as of 11/4/11 due to MFGI bankruptcy. Included in above totals. |
| DEPOSITORY | Registered |
| Brinks | 210,320 |
| Delaware | 65,706 |
| HSBC | 793,734 |
| Scotia Mocatta | 351,156 |
