HSBC Transfers 329,000 Ounces of Silver into JPM Vaults Wednesday

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DEPOSITORY PREV TOTAL RECEIVED WITHDRAWN NET CHANGE ADJUSTMENT TOTAL TODAY
BRINK’S, INC.
  Registered 14,016,239.700 0.000 0.000 0.000 0.000 14,016,239.700
  Eligible 9,766,770.890 0.000 0.000 0.000 0.000 9,766,770.890
  Total 23,783,010.590 0.000 0.000 0.000 0.000 23,783,010.590
DELAWARE DEPOSITORY
  Registered 2,186,825.865 0.000 0.000 0.000 24,990.350 2,211,816.215
  Eligible 21,150,033.316 0.000 0.000 0.000 -24,990.350 21,125,042.966
  Total 23,336,859.181 0.000 0.000 0.000 0.000 23,336,859.181
HSBC BANK, USA
  Registered 5,123,851.000 0.000 0.000 0.000 -503,308.610 4,620,542.390
  Eligible 36,905,289.840 0.000 351,095.600 -351,095.600 503,308.610 37,057,502.850
  Total 42,029,140.840 0.000 351,095.600 -351,095.600 0.000 41,678,045.240
JP MORGAN CHASE BANK NA
  Registered 1,268,416.700 0.000 0.000 0.000 0.000 1,268,416.700
  Eligible 11,771,182.660 328,996.490 0.000 328,996.490 0.000 12,100,179.150
  Total 13,039,599.360 328,996.490 0.000 328,996.490 0.000 13,368,595.850
SCOTIA MOCATTA
  Registered 6,745,498.140 0.000 0.000 0.000 10,095.280 6,755,593.420
  Eligible 29,102,492.630 0.000 0.000 0.000 -10,095.280 29,092,397.350
  Total 35,847,990.770 0.000 0.000 0.000 0.000 35,847,990.770
TOTAL REGISTERED 29,340,831.405 0.000 0.000 0.000 -468,222.980 28,872,608.425
TOTAL ELIGIBLE 108,695,769.336 328,996.490 351,095.600 -22,099.110 468,222.980 109,141,893.206
COMBINED TOTAL 138,036,600.741 328,996.490 351,095.600 -22,099.110 0.000 138,014,501.631

Notice how 351,000 ounces were withdrawn from customer vaults at HSBC, and 329,000 ounces simultaneously appear in JP Morgan vaults.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.

DEPOSITORY Registered
Brinks 210,320
Delaware 65,706
HSBC 793,734
Scotia Mocatta 351,156

                                                                                                    TOTAL                                                               1,420,916