And Now For a Hard Drop In Comex Deliverable Silver

The 'registered' for delivery silver bullion at the Comex licensed facilities dropped by 7,792,110 troy ounces yesterday.

This takes the total from 36,322,409 to 28,530,299.

This is a one day decline of 21.5%.

This also brings the total deliverable silver down to some unfamiliar lows.

Silver in these warehouses has been seeing some large movements for some time now, a fact which I attributed to CNT using the Comex as a delivery mechanism for the silver which they use in their wholesale business.  But this kind of drop is not usual.

Comex Silver looks positively lively compared to Comex Gold, which is starting to resemble a Madame Tussaud's depiction of a commodity market, seeing very little activity, and almost frozen in time like some artifact from the past.




Below is the statement of the warehouses from the day before, from last night's posting here.