Massive silver withdrawal

Massive COMEX silver withdrawal on Friday

3.6 million ounces withdrawn from brinks!

 

Silver Doctors,

13 October, 2012

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  There was an additional 558,390 ounces withdrawn from HSBC.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.

Even though there was a total of 1.6 million ounces deposited in the Comex Warehouses on Friday, there was 4.16 million withdrawn with a net reduction of 2.5 million ounces.

Of course we don’t know if these figures are completely accurate, but we can plainly see there is serious movement of silver coming in and out of the Comex.

UPDATE: 9:53 PM SATURDAY

I just looked at the USGS new monthly Silver Commodity Update.  What a SHOCKER.  If we take a look at the difference in silver exports from just June to July, we can see that a staggering 169 metric tonnes of silver was sent to the United Kingdom back in July.  This is a 5.4 million ounce transfer of silver to the U.K in just one month:

If you notice, you will see that the normal amount of silver that has been moved per month to several different countries is in the 30,000 kg or 30 metric tonnes.  However, in July the U.S. exported 169,ooo kgs. or 169 metric tonnes to the U.K.   Looks like there has been some serious silver being transferred to the LBMA in London.

Lastly, of the total 587 metric tonnes of silver bullion exported between Jan-July of 2012, 169 metric tonnes or 29% of the total silver exports took place in one month… and to one country…. U.K.