Comex silver post-first notice day activity is running at an average pace. Comex March gold activity is nearly all Scotia bank ... again.
The March silver contract has been tacking on new contracts at an average pace compared to prior months. Yesterday's tally was 49 net new contracts. Most of the recent activity has been in customer accounts. Here is the cumulative vs time:
There were some vault moves, none of which I can tie to moves in or out of registered. A total of 983,000 oz entered the vaults and 999,000 oz departed. Registered drifted lower by 5,000 oz.
+++++++++++++++++++++++++++++++++++++++++++++ Gold
Following up from yesterday's note, Scotia and BofA again dominated trading activity and the issues and stops report. This time the activity level wasn't as high as Teusday. There were 69 net new contracts written for the day on a volume of 75. And after that, Scotia issued 63 of 69 delivery notices and BofA stopped 23 of them. In other words, nearly all shorting activity was Scotia bank's house account.
Crickets at the gold vaults:
