dinsdag 19 februari 2013

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...

1 opmerking:

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