from SRSRoccoReport:
Something interesting has been going on in the Comex silver warehouse inventories this week. Not only have large amounts of silver been removed from the Comex since Monday, but there also have been some large transfers that seem quite peculiar.
In the beginning of the week, there was a large 2.2 million oz withdrawal of silver from the Comex. However, part of this amount was transferred to JP Morgan:
Here we can see that Scotia Mocatta transferred nearly 600,000 oz of silver from its Registered inventory to JP Morgan’s Eligible. Basically, the registered category is silver that is available for delivery and is also labeled as the dealer inventory. The eligible category is silver owned by an individual or party that is not available for delivery and is known as the customer inventory.