Massive COMEX Silver Withdrawal on FridaySubmitted by celeste on Sun, 10/14/2012 - 18:40
There was a massive silver withdrawal out of the Comex on Friday. Over the past week, there has been a steady increase in the total amount of silver in the Comex warehouses.
However, in one huge withdrawal, 3.6 MILLION OUNCES, a whopping 17% of Brinks total REGISTERED silver inventory was removed on Friday. I have not seen such a large withdrawal from the registered category for quite some time.
Furthermore, this single withdrawal from the Brinks registered category was nearly 10% of all the total registered silver in the Comex warehouses.
NEW IMPORTANT UDPATE BELOW: added at 9:53 pm SATURDAY
Brinks had a staggering 3.6 million ounce silver withdrawal (or 17% ) from its total REGISTERED INVENTORY on Friday. There was an additional 558,390 ounces withdrawn from HSBC.
There were two deposits on the same day. 456,057 ounces was deposited into the JP Morgan warehouse and 1,176,937 ounces went into the Scotia Mocatta vaults.