8600 Delivery Requests For December Gold Contracts

Comex Delivery Report has been updated:


http://www.nymex.com/media/delivery.pdf

TENDERED/ACCEPTANCES

GC

DEL

GOLDMAN SACHS & CO.

0

PRUDENTIAL BACHE COMODITIES, LLC

122

DEUTSCHE BANK SECURITIES, INC.

0

NEWEDGE USA,LLC

966

RAND FINANCIAL SERVICES INC

0

NFI DIVISION OF NEWEDGE USA,LLC

BANC OF AMERICA SECURITIES LLC

2,000

HSBC SECURITIES (USA) INC.

0

MF GLOBAL INC.

4

CREDIT SUISSE SECURITIES(USA), LLC

2,585

STERLING COMMODITIES CORP.

GREENWICH CAPITAL MARKETS, INC.

0

GELDERMAN DIVISION OF FC STONE, LLC

0

MERRILL LYNCH PIERCE FENNER & SMITH, INC

0

THE BANK OF NOVA SCOTIA

2,327

J.P. MORGAN FUTURES INC.

308

TRILAND USA INC.

275

R.J. O'BRIEN & ASSOCIATES, LLC

F C STONE L.L.C.

FORTIS CLEARING AMERICAS, LLC

7

UBS SECURITIES, LLC

0

BARCLAYS CAPITAL, INC.

0

PTG DIV OF NEWEDGE USA,LLC

0

RBC CAPITAL MARKETS CORPORATION

0

ROSENTHAL COLLINS GROUP

0

MBF CLEARING CORP.

0

MF GLOBAL INC.-PIONEER DIVISION

0

CITIGROUP GLOBAL MARKETS INC.

6

ADM INVESTOR SERVICES INC.

TOTAL

8,600


My reaction: Looks like 8600 December contracts have requested delivery (so far). That means nearly one million ounces of gold will be leaving COMEX's vaults, an amount which could grow with more delivery requests next week. This is VERY bullish for gold.

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0 Responses to 8600 Delivery Requests For December Gold Contracts

  1. Anonymous says:

    thats about 10% of comex gold, isn't it? What will next week bring?

  2. Anonymous says:

    8,600 gold contracts for delivery is 860,000 oz. That is 31% of the COMEX registered inventory available for delivery. There are, as of Friday, there are still 16,053 contracts open for Dec. If all remaining open contract stand for delivery then 89% of the available gold in COMEX warehouse gets delivered.

  3. Anonymous says:

    I wonder what else can they do to keep the prices supressed?

  4. Anonymous says:

    what else they can do? I think everything it takes to keep things under control.

  5. Anonymous says:

    OK, 89% of registered gold will leave the vaults. Then what?

  6. Anonymous says:

    I mean - if this is significant, why there was no price action on Friday? Why are we still in low 800?

  7. There was no price action on friday because the Comex Delivery Report was released at 12:55PM and the markets closed early at 1PM due to holiday.

    "OK, 89% of registered gold will leave the vaults. Then what?"

    It will highlight to the world that physical gold shortages have now spread to the COMEX. Investors aren't complete idiots: if they see COMEX getting shut down by gold deliveries while the government is printing 1 trillion a week, they will put two and two together and stampeed into gold.

  8. Anonymous says:

    "Investors aren't complete idiots: if they see COMEX getting shut down by gold deliveries while the government is printing 1 trillion a week, they will put two and two together and stampeed into gold."

    I do hope they are not :-) It is just that there has been time to put two and two together and that hasn't happened. With all the economic calamity developing over last 18 months, how could anyone in his right mind still prefer paper assets, which are someone's liability? Either we are idiots, expecting gold to at 3000 by now, or the markets are such, and in that case little can be done :-)))

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