Bobby and all,
Get a load of this ... from Kitco thread .... sorry if it was posted earlier - no time to read thread.
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Futures World News - November 14, 1997 17:07
METAL GENERAL V%FWN P%FWN
New York-Nov. 14-FWN--THE COMEX DIVISION OF NYMEX TODAY
reported that Swiss Bank Corp., who will cease to act as a Licensed Depoistory for the storage of gold and silver deliverable against COMEX's gold and silver futures contracts on Nov. 21, 1997, has informed the exchange that Swiss Bank has been incorrectly reporting the amount of gold and silver eligible for delivery against the respective contracts.
Due to an error in reporting stocks, the Metal Warehouse Statistics from the close of business on Nov. 13 incorrectly showed a total of 3,811,872 troy ounces of silver and 75,284 troy ounces of gold at Swiss Bank Corp. The actual total was 335,203 troy ounces of silver and 43,696 troy ounces of gold.
Today's inventory report, dated Nov. 14, 1997, correctly reflects the transfer of all Swiss Bank Corp. gold and silver inventories to Republic National Bank.
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Seems there was not as much in stock as there was reported .... COMEX should be interesting Monday.
MB |
