Meltdown 2011

Vaporize COMEX

December 29th, 2008

By: Scott Gallup

Gold: 48.1% depleted. Delivery notices today: 5,200 oz.
Silver: 46.3% depleted. Delivery notices today: 5,000 oz.
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COMEX trades hundreds of times more gold & silver than they actually possess. If enough investors demand delivery of PHYSICAL gold & silver COMEX stockpiles will be depleted. If COMEX runs out, the ensuing rush to grab physical metal to settle contract obligations *could* be the spark that ignites the long-awaited precious metals wildfire.

Explanation:
COMEX warehouses contain both “registered” and “eligible” metals. The “registered” metals are available for physical delivery. The “eligible” metals are not ready for delivery until they become “registered.” Although this pool of “eligible” metals is stored at COMEX warehouses there is no obligation to “register” these metals for subsequent physical deliveries.

The graph shows:

  1. the cumulative ounces of metal delivery notices this month,
  2. the ounces of “registered” metal available for delivery,

The percentage shown is based on the cumulative physical metal delivery notices for the month against the “registered” amount of metal in COMEX.
“Eligible” metal inventories are not shown as they do not have a direct bearing on the inventory depletion ratio.

Meltdown 2011
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Daily Chart : Gold

Daily Chart : Silver

Daily Chart : Platinum

Daily Chart : Palladium

 
 
 

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