Ed Steer writes:
"First Day Notice for the month of January showed that 3 gold and an absolutely stunning 1,030 silver contracts were posted for delivery on Thursday within the Comex-approved depositories.
The short/issuers of note were Canada's Bank of Nova Scotia with 368 contracts---but the big kahuna was JPMorgan, with 651 contracts out of its client account! There's no prize for guessing the biggest long/stopper, as it was JPMorgan Chase once again with 988 contracts in its in-house [proprietary] trading account. The link to yesterday's Issuers and Stoppers Report is here, and it's worth a look.
This is really a big deal, as January is not a regular delivery month in silver---and the fact the JPMorgan took delivery of five million ounces on the very first day, should make everyone stand up and take notice. As Ted Butler has pointed out on many occasions---JPMorgan is mega-short the Comex paper market, but taking physical delivery of every ounce they can lay their hands on."