A 30% drop in registered gold at the Brink's vault and a 15% drop in registered gold at Scotia Mocatta marks a huge total drop of more than 200000 ounces of gold at the COMEX.
We are on course for a total sell out in physical gold at the COMEX at the end of the summer. We also see this in the spiking gold lease rates and lower gold forward rates.
It is going to be interesting. What happens when the blue line intersects with zero? Any predictions?