Although we have been watching the gold potential claims per deliverable ounce quite closely, we have not been reviewing the situation in silver.
As I have mentioned before, the situation with silver on the Comex is quite a bit different than with gold.
Thanks in large part to CNT, a large wholesale of silver bullion to the US Mint among others, the Comex silver warehouses often see large amounts of withdrawals of bullion for use by the buyers.
In the case of gold, the function of the gold in those warehouses seems to perform more of a collateral arrangement, with the physical delivery exchanges being located in London and in Asia.
So it is no surprise that the potential claims per ounce of silver, although a bit elevated of lat at 15 to 1, it is relatively modest compared to the 230 to 1 ratio of gold.
