Total Gold Stock at COMEX hits new low

As predicted here, the total gold stock plunged to the lowest stock level since I monitored the COMEX, namely: 10676012 troy ounces.





This was of course obvious when J.P. Morgan swapped eligible gold into registered gold a few weeks ago. Total stock at J.P. Morgan vault hit a low of under 2 million troy ounces.





(Probably Soros is selling his GLD and now taking delivery...)







Chart 1: Gold COMEX





On the silver front we still see a huge increase in stock (and therefore also increase in open interest) (Chart 2).







Chart 2: Silver COMEX

It's surprising to see this huge divergence between silver and gold. I don't know what it means...

Comments

  1. AnoniemFebruary 20, 2013 at 1:38 AM

    Perhaps there is no correlation between COMEX inventory of precious metals and their price.

    ReplyDelete

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