Have gold and silver actually been delivered?

An article on Comex delivery delays has been posted on GATA, suggesting the real reason behind the current panic might not be tariffs, but large amounts of bullion undelivered.

Before reading this article, it is worth reading a link posted on GATA to an article by Kevin Bambrough, who worked for Sprott between 2002—2013. It is a saga of major bullion houses using every excuse under the sun to justify non-delivery of bullion to Sprott. 5-day deliveries were not completed and turned into “a nine-month odyssey of excuses and misdirection”.

I remember reading of a similar case several years ago, when an individual reported that by way of an experiment, he bought one futures contract and stood for delivery. Every excuse not to deliver was made and finally occurred after the individual showed persistence and tenacity, long after delivery was due. It was this experience that comes to mind as confirmation that Bambrough’s story has the ring of truth in it, and appears to confirm that bullion banks, who are dealers in credit and not bullion, don’t really have the bullion to deliver on contract expiry.

I have been collecting stand-for-delivery statistics since 2021, and annual totals are shown in the table below.