Yesterday we advised readers that JP Morgan had reported a nearly impossible exactly 720,000.000 ounce physical silver deposit into eligible vaults, which in reality was likely merely a paper deposit.
Our friends in JP must be a hurtin for the phyzz, as today’s COMEX warehouse update reveals a 329,000 ounce silver transfer from HSBC to JP Morgan vaults was completed Wednesday.
And by silver transfer, we mean several sticky notes likely changed locations.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 4/19/12
|SILVER||Report Date: 4/19/2012|
|Troy Ounce||Activity Date: 4/18/2012|
|DEPOSITORY||PREV TOTAL||RECEIVED||WITHDRAWN||NET CHANGE||ADJUSTMENT||TOTAL TODAY|
|HSBC BANK, USA|
|JP MORGAN CHASE BANK NA|
Notice how 351,000 ounces were withdrawn from customer vaults at HSBC, and 329,000 ounces simultaneously appear in JP Morgan vaults.
The other big news from the report was a 503,000 ounce adjustment in the HSBC vault out of registered and into eligible. This brings the COMEX registered silver inventory down to another new multi-month low at 28,872,608.425 ounces- a mere 2 million ounces off of the all time lows placed last summer.
While the CME is now reporting inventory levels to 3 decimal places, strangely enough- once again, NO MENTION FROM THE CME OF THE MISSING 1.4 MILLION OUNCES OF REGISTERED SILVER THAT SIMPLY DISAPPEARED IN THE AFTERMATH OF THE MF GLOBAL BANKRUPTCY!
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
*Registered ounces of metal currently not available for delivery
as of 11/4/11 due to MFGI bankruptcy. Included in above totals.