"In fact, according to the Comex?s Metal Depository Statistics report, just released, registered silver bullion at the Comex has dropped again to a record low of 29.6 million ounces in May, a drop of 3.5 million ounces in one month. That drop comes off the heals of a 8 million plunge in inventories in April, from February.
At today?s silver price of $37, the value of total Comex silver available for delivery equates to a miniscule $1.1 billion.
Compare the 29.6 million ounces with the Comex?s inventory of registered silver reading of 86.6 million ounces in July of 2008, or a decline of 1.7 million ounces, on average, each month. So, the raid on the silver stock has escalated markedly during the last two reporting months of April and May.
At the present rate of offload, the Comex stores approximately six months of inventory of silver bullion.
Click here for a graph of the trend in Comex silver inventories since August 2008."
