802,519 oz of silver removed from COMEX customer inventory - October 25th 2010.

[Filthy Keynes]

Massive Movements out of silver comex vaults...FDIC announces more banking problems..G 20 meeting failure..Oct 25.2010
http://harveyorgan.blogspot.com/2010/10/massive-movements-out-of-silver-comex.html



Let us begin in the silver COMEX:

You will note that there were no deposits of silver in either the dealer or customer.

There was a sizeable 802,519 oz of silver removed from a customer. This is a sure sign of trouble at the silver COMEX.

Silver

Withdrawals from Dealers Inventory

zero oz

Withdrawals from customer Inventory

802,519 oz

Deposits to the dealer Inventory

n/a oz

Deposits to the customer Inventory

n/a oz

No of oz served (contracts=5 )

25,000 oz

No of oz to be served 23 contracts)

115,000 oz


From Harvey's comment at the bottom of the page:

Dear LeGerde:

the options to purchase a gold and silver contract expire tomorrow in both gold and silver for the November non delivery month.

Remember that on Oct 1 the option holders received a futures contract (Oct futures) and generally they stand for delivery.

In gold, the 342 OI is open interest that are standing for a gold contract of 100 0z(futures Oct). They have until the end of October to deliver

in silver: same story..they have until Oct 29.2010 to be delivered upon.

you can bet the farm that there is going to be some cash settlements.

however both silver and gold seem scarce due to the delay in servicing these long holders.

all the best
Harvey.

COMEX is going to have to let go.
http://www.newprophecy.net/Linda_Hamilton_-_Nuke_Scene.jpg

[Twisted Titan]

There was a sizeable 802,519 oz of silver removed from a customer


Clearly someone believed in "holding it"

[chad]

There was a sizeable 802,519 oz of silver removed from a customer


Clearly someone believed in "holding it"


that was one guy?

[Horn]

Looks like the days we've all been discussing over the past 6 years are finally here.

What's the next topic of discussion? And should we consider switching to using Mandarin as the preferred communication standard?

[Awoke]

Jeez, wouldn't that amount of silver deplete their physical holdings completely?

The next customer that walks in there will have to settle for some paper certificates or fiat.

[mick silver]

yep they said my silver on it way ... i thought i would take it off the market and put it back in my under gound bank