COMEX Silver 'Registered' Inventory Soars Again

Wednesday was another positive day for the precious metals ahead of the 4th of July weekend holiday.

The gold futures were $17 higher to $3,367.

And the silver futures also had a strong day climbing 58 cents to $36.43.

There weren't any big headlines regarding the trade situation with China, although the Trump Administration did announce a trade deal with Vietnam.

In terms of the gold and silver warehouse inventories, we have seen some changes since large amounts of gold and silver went from London to New York earlier this year. Although interestingly, much like how we have seen regular bouts of price divergence between the gold and silver prices, we're also seeing some different patterns between the two metals in terms of their warehouse activities.

Most notably, after silver flowed into the registered category earlier this year, we’ve started to see some of that metal come back out. At least until some recent deposits have led to another surge in the registered inventories, now leaving the total registered silver stockpile at 190.6 million ounces.