BANKERS THREAT: Global Exchanges Continue To Bleed Silver

Precious Metals by SRSrocco

This huge demand in the retail market made its way into the wholesale market.  According to the article, Investment Silver Demand Draining COMEX Vaults:

One or more major players “jumped the queue” and took delivery of about 6.5 million more ounces of silver out of COMEX warehouses than anticipated at the beginning of the month.

Now, since this article was written (Aug 3rd), there were three more large net withdrawals:

Aug 4th = -672,000 oz

Aug 5th = -548,000 oz

Aug 6th = -1,028,623 oz.

Here is the lasted COMEX Silver Inventory update:

Even though total silver inventories at the COMEX have only fallen 12 million oz (Moz) since its peak in the beginning of July (184 Moz to 172 Moz), the Registered category suffered the largest ongoing decline if we go back all the way to September 2011.

COMEX Registered silver inventories continued to build after bottoming in 2011 at 26 Moz.  As we can see in the chart, as Registered Inventories trended higher, it was quite bumpy.  However, the largest decline was no more than 10 Moz.  The Registered Silver Inventories have fallen 15 Moz in just the past four months.