Comex depositories silver stock, something to explain there.

Pirocco

Pirocco

Well-Known Member
Most recent report can be downloaded here: http://www.cmegroup.com/delivery_reports/Silver_stocks.xls
The 2 most recent reports show some remarkable silver amount changes, and in an unusual time way.

Activity Date: 2/11/2014
TOTAL REGISTERED 50.773.199.886
TOTAL ELIGIBLE 131.763.400.478
COMBINED TOTAL 182.536.600.364 <- record multiyear (alltime?) peak

Activity Date: 2/12/2014 <- the day this recent price uptrend of so far 10% started.
TOTAL REGISTERED 48.426.746.785
TOTAL ELIGIBLE 110.213.197.466
COMBINED TOTAL 158.639.944.251 <- single day drop of 24 Moz, bringing it back to a level last seen on 08 february 2013, 1 year ago.

Above shows a big drop, but that's not the subject of this topic, it is the change that is.
As far as I know, this .xls gets updated once a day, and reflects the situation of the previous market-open day.
Although, the Report Date is (for my time zone at least?) always yesterday, so (for me?) it reflects the situation 2 market days ago.

Aboves snapshots show:
- a (quite common) drop of Total Registered of 2,346,453.101 oz. (2,35 Moz)
- a (very huge) drop of Total Eligible of 23,896,656.113 oz. (23,9 Moz)

But download the .xls now, and look at the Changes.
There is only 1, being HSBC BANK, USA that shows a drop of category Eligible of 1,384,755.675 (1,38 Moz)
Then, look at the PREV TOTAL column.
TOTAL REGISTERED 48.426.746.785
TOTAL ELIGIBLE 111.597.953.141
COMBINED TOTAL 160.024.699.926

One can see: the big drop wasn't reported in this .xls.
It like happened after the "Report Date: 2/12/2014" and before the "Report Date: 2/13/2014"

Now there is a special comment in this report "Report Date: 2/13/2014":
Note: ONE OR MORE DEPOSITORIES WERE NOT ABLE TO REPORT CHANGES TODAY DUE TO WEATHER CONDITIONS ON THE EAST COAST.
Click to expand...
But I have a hard time thinking how this can serve as an explanation, and especially when next week the 'new offset' (PREV TOTAL column) will proceed from the 160 Moz instead of the 182 Moz TOTAL number.
Either somebody made an error there (correction thus pending), either a big inventory drop was done without Reporting it here. Or at least, IF it has been Reported, it has been done as a second change on a same Report Date, OMG MaNiPuLaTiOn! :D
Is there anyone here (or do you know anyone/site) that also logs this .xls?
 
I just checked a dozen random older .xls files here, and the TOTAL of one Activity day, is the PREV TOTAL of the next Activity day, which confirms the 1 time per day update of this .xls.
So this most recent report, IS something weird. Its PREV TOTAL shows a huge discrepancy with the (new) TOTAL of the previous day.

Also worth adding here is this:
That
Note: ONE OR MORE DEPOSITORIES WERE NOT ABLE TO REPORT CHANGES TODAY DUE TO WEATHER CONDITIONS ON THE EAST COAST.
Click to expand...
does NOT appear in http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls

These are the gold depositories:
BRINK'S, INC.
HSBC BANK, USA
JP MORGAN CHASE BANK NA
MANFRA, TORDELLA & BROOKES, INC.
SCOTIA MOCATTA

These are the silver depositories:
BRINK'S, INC.
CNT DEPOSITORY, INC.
DELAWARE DEPOSITORY
HSBC BANK, USA
JP MORGAN CHASE BANK NA
SCOTIA MOCATTA

Depositories with no silver:
MANFRA, TORDELLA & BROOKES, INC.

Depositories with no gold:
CNT DEPOSITORY, INC. (according to http://www.apmaz.com/cnt-depository located in New England)
DELAWARE DEPOSITORY (Delaware, North East US?)

Now, this DELAWARE DEPOSITORY, according to its name, IS East Coast, the bad weather condition statement was about.
And I just found out that in the 11 february and previous reports, it's present, and in the 12 february report, it's not.
So, explanation found, it held about 22 Moz, and since it's not in this report, its absence made the Total to drop that big.
So, in the next report (weather back okay haha?), it should be readded, and the Total back to 180 Moz or so.

So the remarkable price movement happening around same time, could have been just coincidence.
OR, alot people initially thought the same as I did for a moment: big Comex drop, and for some (not me though, haha) that serves as a signal to start buying like lemmings haha.
In that case, with markets closed for the weekend, and if you can find some suckers to sell to, there is 10% profit to be grabbed! :D
 
Obviously a conspiracy / cover-up by Comex, and nothing to do with the winter storms in the USA :P
 
I edited my second post, explanation may have been found.

And here another edit haha:
http://www.delawaredepository.com/home/about-us
Our Delaware location offers additional benefits. Delaware Depository is geographically away from the threats associated with major political and financial centers such as Washington DC and New York City, yet conveniently located near major transportation hubs. Delaware is relatively free from natural disasters and the state imposes no sales tax on the purchase, administration or storage of precious metals. There are no corporate net worth, personal inventory or transfer taxes applied to bullion transactions.
Click to expand...
There is only one silver depository that lost contact with the rest of the world, and it's the one that claims that it's relatively free from natural disasters! :D
They lost their silver in a boating accident! :D
 
Note: ONE OR MORE DEPOSITORIES WERE NOT ABLE TO REPORT CHANGES TODAY DUE TO WEATHER CONDITIONS ON THE EAST COAST.
Click to expand...

This is becoming a convenient excuse to explain away uncomfortable statistics/events.
 
mmm....shiney! said:
Note: ONE OR MORE DEPOSITORIES WERE NOT ABLE TO REPORT CHANGES TODAY DUE TO WEATHER CONDITIONS ON THE EAST COAST.
Click to expand...

This is becoming a convenient excuse to explain away uncomfortable statistics/events.
Click to expand...

Yeah, the trend of data beating expectations is considered part of the US recovery but when data disappoints it's always due to the weather. No wonder mother nature has been given the US the cold shoulder over the last few weeks.
 
Pirocco said:
I edited my second post, explanation may have been found.

And here another edit haha:
http://www.delawaredepository.com/home/about-us
Our Delaware location offers additional benefits. Delaware Depository is geographically away from the threats associated with major political and financial centers such as Washington DC and New York City, yet conveniently located near major transportation hubs. Delaware is relatively free from natural disasters and the state imposes no sales tax on the purchase, administration or storage of precious metals. There are no corporate net worth, personal inventory or transfer taxes applied to bullion transactions.
Click to expand...
There is only one silver depository that lost contact with the rest of the world, and it's the one that claims that it's relatively free from natural disasters! :D
They lost their silver in a boating accident! :D
Click to expand...



It didn't say that, though: it said 'one or more' depositories, and New England is included in any definition of 'East Coast'. So it could have been CNT as well, and that's without knowing the geographic locations of the other depositories.
 
JB3 said:
Pirocco said:
I edited my second post, explanation may have been found.

And here another edit haha:
http://www.delawaredepository.com/home/about-us
Our Delaware location offers additional benefits. Delaware Depository is geographically away from the threats associated with major political and financial centers such as Washington DC and New York City, yet conveniently located near major transportation hubs. Delaware is relatively free from natural disasters and the state imposes no sales tax on the purchase, administration or storage of precious metals. There are no corporate net worth, personal inventory or transfer taxes applied to bullion transactions.
Click to expand...
There is only one silver depository that lost contact with the rest of the world, and it's the one that claims that it's relatively free from natural disasters! :D
They lost their silver in a boating accident! :D
Click to expand...



It didn't say that, though: it said 'one or more' depositories, and New England is included in any definition of 'East Coast'. So it could have been CNT as well, and that's without knowing the geographic locations of the other depositories.
Click to expand...
I came to Delaware Depository throughout the method known as exclusion. See, they didn't put this text in the gold_stocks.xls so this excluded all depositories holding gold, leaving just 2, being CNT in New England and Delaware. Then, the silver_stock.xls with the comment, has only Delaware missing, CNT is present, so leaves Delaware, since if both had been unable to report, why would they omit Delaware but not CNT?
 
worldbubble said:
what about open interest?
may be drain of eligible is due to short covering?!
Click to expand...
You might have missed my edit of the post, the Delaware depository vanished from the spreadsheet, and before it held about the same amount silver as the amount of the drop. So it's likely that as soon as Delaware again reports to the 'central' Comex data keepers, they will be readded, and the total stock again jumps to what it was before the drop.
So if we see again 180 Moz as total next week, and Delaware again listed, then it will confirm this.
If not, then maybe, for some reason I don't know, Delaware has been digged as Comex Depository. But that's an IF. We'll see.
It would be 'really funny' if the readdition of Delaware would coincide with the silver price being dumped back down to $19.5 the next days.
 
And there we go:
Activity Date: 2/13/2014
TOTAL REGISTERED 50.773.199.886
TOTAL ELIGIBLE 130.750.896.693
COMBINED TOTAL 181.524.096.579

The disappeared silver again reappeared, with the Delaware Depository again appearing in the list.
So the explanation was indeed the weather. Broken communication lines to the Depository that was advertised as relatively free from natural disasters! :D
But the 600 tonnes silver wasn't blown/washed into the ocean, so everybody here floating on a boat at the NE coast, there are no freebies to find there, you can row back now. :D
 
worldbubble said:
So tomorrow silver will plunge )))))
Click to expand...
As said, that would be funny.
Because it would suggest that the lack of the Delaware silver stock reports to the Comex, drove a couple dozens markets including the stock markets (that revisited their previous recordhighs).
It's possible that a small element has big consequences, especially in very situations that were driven to extremes (abit like the trigger that made WOI to manifest itself).
Are we today in such extreme situation? I don't know. Record highs do indicate them, though.
 
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