COMEX gold update: J.P. Morgan converts almost all of eligible gold to registered gold

And again, over the weekend, J.P. Morgan converted its eligible gold into registered gold. I predict that we will see the total gold stock decline once again as a rise in registered gold means people will take delivery.

J.P. Morgan has now almost converted all of its eligible gold into registered gold.

Chart 1: Gold Stock COMEX

On the silver stock, we don't see anything significant happen yet.