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Comex Dealers Lease Silver 3 Weeks In A Row

|Includes: iShares Silver Trust ETF (SLV)

Looks like physical silver is breaking balls of Comex dealers since they were forced to lease silver from Comex customers for the 3rd week in a row this month (and the month is still not over).

So far Comex dealers leased following amounts of physical silver from Comex customers:

- Sep 7th 2010 silver lease of 2,298,863 ounces of PHYSICAL silver

- Sep 16th 2010 silver lease of 801,277 ounces of PHYSICAL silver

- and latest lease on Sep 20th 2010 silver lease of 508,205 ounces of PHYSICAL silver

Total silver leased from Sep 7th to Sep 20th 2010: 3,608,345 ounces (let’s round it to 3.6M oz).

Yet, all this time Comex dealers claim to have in their warehouse over 53M oz of physical silver.

If they have 53M oz of silver…

…why are they leasing 3.6M oz (3 weeks in a row)?

Also, yesterday’s Comex reports tell us that...

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Disclosure: Long the physical.