For more than 6 months I have been gathering data released daily by the COMEX concerning delivery notices and inventory levels of gold and silver. This data must be captured and recorded each day as there is no database of historical data available to the general public.
Studying data on a daily basis is not conducive to seeing the big picture so I have just completed a study of what can be discerned by looking at the entire 6 months of data. The results are very revealing.
First of all for those who are not familiar with the delivery process of the COMEX I will summarize some key information.
Only a small fraction of the contracts, less than 1%, that are bought or sold on COMEX ever go into the delivery process. The contracts are typically terminated by rolling them to a future month or by closing out the position (either selling a long contract or covering a short contract). (more)
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