Sunday, November 14, 2010

Has there been a run on Scotia Banks silver inventory?

When you look at silver you would think that it was no activity. Actually the activity was fierce. Let me explain:

There were two deposits of silver into the customer inventory:

1.customer no 1 deposited a huge 601,039 and

2.customer no 2 deposited 1,932 oz for a total of 602,971 oz

However two customers removed silver from its vaults:

1.customer no 1 removed 150,480

2.customer no 2 removed 455,672 for a total of 606,152.

by subtracting 606,152 from 606,152 one gets the net removal of silver of 3181 oz.

It is also interesting that almost exactly 450000 of those oz left the vaults of Scotia Mocatta and entered the vault of Brinks.

We are witnessing the continual withdrawal of customer inventory of silver from Mocatta`s vaults. They are now down to a record low of 5.4 million oz.

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