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Comex Dealers Borrow Physical Silver Despite Reporting Increased Inventory
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Thread: Comex Dealers Borrow Physical Silver Despite Reporting Increased Inventory

  1. #1
    Join Date
    Feb 2009
    Posts
    451

    Default Comex Dealers Borrow Physical Silver Despite Reporting Increased Inventory

    From another forum

    On September 7th 2010, Comex dealers took a lease from Comex customers for 2.3 million ounces of physical silver (actually 2,298,863), equaling 460 contracts.

    Why are dealers leasing from customers (which cost them certain fee), when they report to store in Comex warehouse 54.1 million ounces?

    If they owned 54.1 million ounces of physical silver Ė why would they pay storage and insurance fee on this reported silver, plus paying a new fee to lease additional 2.3 million ounces of silver from customers?

    With total number to deliver in Sep 2010 being around 13 million ounces and dealers reported registered silver inventory being 54.1 million ounces, there shouldnít be a problem to just deliver this amount and still have 41.1 million in their warehouses.

    Are they so generous to pay so many fees (insurance, storage, leaseÖ) or they actually donít own this reported 54.1 million ounces of PHYSICAL silver?

    Paper silver is in abundance but when clients demand 15 million ounces of physical then we see whatís happening.

    By the way, dealers shipped this leased 2.3 million ounces in 72 hours after getting it from customers inventory.

    Actually they leased 460 contracts on Sep 7th 2010 and they will deliver 456 contracts from Sep 9th to Sep 13th 2010.

    Hmm, looks like they are fast to ship physical when they lease it from the ones actually having the physical but they donít bother to ship in first 10 days of this month from their warehouses (where physical silver, standing for delivery is less than 30% of their reported inventory of physical).

  2. #2
    Join Date
    Feb 2009
    Posts
    451

    Default

    Quote Originally Posted by Matthew Shelley View Post
    I'm one of those people who is limited to facts, so wild eyed stuff will not be a part of the conversation.

    Matthew C. Shelley
    Commodity Broker
    Mr. Shelley, I'm sorry to disturb you again but I'd like to come to know your opinion about these facts too. Business as usual or something unusual?

    Thanks again

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