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Comex silver stocks hit highest in at least 28 mths

Monday, April 16th

Silver stockpiles in Comex-monitored warehouses a re at their highest level since at least December 2009, s howing near-term supply of the metal is plentiful as mine output holds at record levels and the global economic recovery struggles for traction.

The rise is not reflected in silver prices, however, suggesting a fluid relationship between stocks and spot prices. Silver prices have risen 13 percent so far in 2012, while inventories have increased by more than 20 percent.

The U.S.-based silver stockpiles stood at 141.59 million ounces on Friday, up from 140.6 million ounces the previous day and 102.65 million ounces a year ago.

That figure reflects both registered stocks - material covered by an ownership title - and eligible stocks at warehouses monitored by Comex.

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