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Old 07-10-2013, 03:18 PM   #81
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& again another net change of -106 000 ounces!

New Total: 7 095 952

That's 312 000 ounces removed over 3 days!

(They also received +-50 000 ounces in the latest report and in yesterdays as well, so if it hadn't been for that, there would have been over 400k ounces removed!)
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Old 07-15-2013, 02:47 PM   #82
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CME Reports That Brinks Has a Seventy Percent Decline in Registered Gold Bullion Supply

again, this may be old news already. Didn't see it:
http://jessescrossroadscafe.blogspot...gold-with.html
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Old 07-15-2013, 03:33 PM   #83
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Yep. That's the 312K ounces that Unbeatable mentioned. COMEX vaults are leaking like a sieve.
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Old 07-15-2013, 03:40 PM   #84
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PMB, thanks for that. I didn't make the connection..., actually did read it...
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Old 07-19-2013, 03:10 PM   #85
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Not much has been happening regards Comex deliveries the last few days.
But they had a reasonable size withdrawel today of 90 000 ounces from JP Morgan.

This leaves them (JPM) with a total of only 436 000 ounces and only 46 000 eligible ounces left!

It also finally brings the total for all them to under 7 million ounces - 6 989 165 ounces

Edit: From ZH in pictures...

Quote :
For over a month, JPMorgan managed to mysteriously avoid matching up the gold held in its (world's largest) vault with the Comex delivery notice update. However, as of today, that particular can will be kicked no more. Starting yesterday, JPM reported that just under 12,000 ounces of Eligible gold (the same Registered gold that two days earlier saw its warrants detached and convert to eligible) were withdrawn from its warehouse 100 feet below CMP 1. But it was today's move that was the kicker, as a whopping 90,311 ounces of eligible gold were withdrawn, accounting for a massive 66% of the firm's entire inventory of non-Registered gold, and leaving a token 46K ounces, or a little over 1 tonne in JPM's possession.






http://www.zerohedge.com/news/2013-0...h-all-time-low
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Last edited by Unbeatable; 07-19-2013 at 03:45 PM.
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Old 07-21-2013, 04:24 AM   #86
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A journalist on scene on Wall Street this evening has just sent us footage of a massive fleet of Firetrucks and ambulances in front of JP Morgan’s headquarters at 1 Chase Manhattan Plaza, with fire-fighters stating they are responding to a COMMERCIAL VAULT FIRE IN THE BASEMENT!

With JPM’s gold inventory plunging 66% Friday to an all-time low of 46,000 ounces, and with reportedly over 502,000 ounces still standing against JPM for the JUNE gold contract, is the long anticipated force-majeure event in progress?
http://www.silverdoctors.com/breakin...force-majeure/

I posted the reported fire in it's own thread but obviously it might impact/relate to JPM's comex deliveries that we were just talking about here.
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Old 07-21-2013, 11:36 AM   #87
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An update says it wasn't the vault that holds their gold (if any). But I could see where they might want to disappear a bunch of paper records...which burn fine, unlike gold. That is, if they even have paper, rather than some easy-to-wipe bits on disks. Of course, with the number of computers they have, and whatever backups, actually wiping out all the bits can be problematic if say, someone with my skills was investigating. But not to worry - the .gov doesn't really have those skills in abundance, and surely not in the agencies that might want to do the looking. Heck, they just discovered porn on the internet and stopped there - how hard is that?
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Old 07-22-2013, 02:22 PM   #88
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Looked at the comex report this evening and it says 103k ounces of eligible gold were removed from HSBC.

New total of all Comex gold - 6 885 681
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Old 07-22-2013, 06:14 PM   #89
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Video and chart courtesy of Jesse's Cafe Americain:
http://jessescrossroadscafe.blogspot...o-another.html




Owners per ounce of Comex Registered Gold:

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Old 07-22-2013, 06:21 PM   #90
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And referencing the Edmund Fitzgerald once again (punchline at the end of the article):

http://www.goldmoney.com/gold-resear...efcode=dollarc

Quote :
Gold derivative distortions
2013-JUL-21


The purpose of this article is to explain how derivatives have distorted gold prices with particular reference to the US futures markets. This will enable us to anticipate the price effect when the distortion is eventually unwound.

When a derivative is created it diverts supply and demand from the underlying commodity. If it is then hedged into the underlying commodity the price effect is the same as if it was a simple commodity transaction. Enter the “honest speculator”, who is neither producer nor consumer, but seeks to profit by trading derivatives for profit, without an intention of taking delivery. The speculator who does not roll his positions into subsequent future contracts brings forward demand or supply only to reverse the price effect later in the life of the contract. In this case speculators provide liquidity with no lasting price distortions.

So far we have considered markets which are essentially free. In the US futures markets, this changed when banks were permitted to act as “commercials”, despite the fact they are in fact speculators in the original market definition. The nature of the futures market changed from this moment to one where speculative positions have become more or less permanent.

In the case of gold and silver the banks have absorbed physical demand by continually running net short positions. We cannot say that all of this demand would have existed without the banks’ intervention; however there is no doubt that the expansion of the overall market by the addition of permanent short positions has led to lower prices overall than would otherwise be the case.

If futures markets are not to distort prices on a prolonged basis three conditions must apply: every player must be motivated only by profit, the banks must commit only their own resources and no one else’s, and there must be periodic liquidation of speculative positions. Instead, there is little doubt that there is political intervention, the banks are too big to fail which allows them to commit funds they would not otherwise commit, and there has been no overall liquidation of speculative positions. The result is that banks have been able to manipulate prices, and pricing has become distorted, confirmed by emigration of gold away from derivative markets.

The third condition cited above needs further explanation. Since March speculative longs have been liquidated through stop-loss orders, leaving a core of longs inaccurately regarded as speculators. The banks have closed their short positions by encouraging new speculators to open short positions, so the speculators are all now on the short side. They don’t realise it yet, but the speculator shorts are the now only true speculators in the market. Therefore when they come to close their positions, there is no one to provide them the necessary market liquidity except on a completely different and higher price basis.

The net effect on the gold price so far has been to suppress it. Demand for physical has increased at lower prices as one would expect, leading to a physical liquidity crisis on US futures markets. At the same time a parallel liquidity crisis has developed on the London Bullion Market, evidenced by negative gold forward rates.

It has the makings of a perfect storm.
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Old 07-24-2013, 03:35 AM   #91
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might be a bit off topic but FOFOA has just posted a fascinating and unusually succinct (for him) explanation of what he considers is happening -

http://fofoa.blogspot.co.uk/


hey wow, I just got me a new jacket !
how do I look fellas ?
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Old 07-25-2013, 08:36 AM   #92
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The COMEX must change it's policy soon?
http://www.jsmineset.com/2013/07/22/...echanism-soon/

"The highest probability is that Comex will have to move to cash settlement rather than gold. Part of that settlement could be lots of 100,000 GLD that represents the ability to exchange for gold.

Their problem is that if GLD is part of the settlement mechanism for the spot Comex contract that GLD will be destroyed by the convertibility. It is a truism in gold that which is convertible into gold will in fact be converted over time."
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Old 08-01-2013, 12:49 AM   #93
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Quote :
...
Tonight, the Comex registered or dealer inventory of gold falls again and this time, well below the 1 million oz mark at 939.501 million oz or 29.22 tonnes. This is dangerously low especially when we are now into the August delivery month. The total of all gold at the comex (dealer and customer) rises slightly tonight but still well below the 7 million oz barrier resting at 6.991 million oz or 217.46 tonnes.

JPMorgan's customer inventory remains constant tonight at only 46,069.447 oz or 1.43 tonnes. It's dealer inventory rests at 390,092.326 oz (12.13 tonnes) but it still must settle upon contracts issued in the May and June delivery month which far exceeds its inventory. (see (i) last Wednesday's Bill Kaye interview with Lars Schall on the lack of deliveries at the comex per outstanding issuances and (ii) Alasdair Macleod yesterday with Max Keiser).
...
http://harveyorgan.blogspot.com/2013...-slvcomex.html
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Old 10-16-2013, 09:22 AM   #94
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Quote :
... The move toward backwardation in the GOFO rates is significant in my mind because it is occurring at the same time that COMEX stands to lose roughly 60% of their registered Gold. If no more Gold enters the dealer side between now and Dec. we will have a disastrous "cash settlement" which of course will not be called a default… but in reality and practicality "default" it will be.

December currently has contracts open representing 22 million Gold ounces while the registered Gold is only 700,000 ounces. Once October is finished there will be only 300,000 ounces remaining unless the inventory is replenished. (Please keep in mind that JP Morgan has had exactly ZERO outside ounces delivered in since Jan. 1st). This is a default in the making! What has been done time after time looks to be happening again, supply has tightened up …and yes, exactly at the same time that "price" has been pushed down. This economically makes no sense whatsoever from a supply and demand standpoint. If actual Gold was being sold supply would be plentiful and there would be no pressure for GOFO rates to go negative. Friday’s dump in price was clearly new short selling as the open interest rose over 7,000 contracts or 700,000 ounces. Who has this amount of metal to either sell or sell short? The answer is NO ONE!
...
More: http://www.jsmineset.com/2013/10/15/jims-mailbox-1377/
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Old 10-16-2013, 10:31 AM   #95
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I say bring on the default already. I want the world to finally wake up to the fraud that is paper gold and realize they have [paper holders] all been had.
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Old 10-21-2013, 08:09 AM   #96
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Quote :
...
Your Wed-Thu totals are: ... GLD "inventory" down 6.9 mts or about 222,000 ounces.

...

Your Wed-Thu Comex Vault totals are: An increase of 197,307 ounces, all in the eligible category.

Putting it together, I have no remaining doubts. "Quod Erat Demonstrandum".

The bullion banks are desperate for gold to settle in both London and New York. We see it in the declining Comex stocks and the occasional London Forward Rate backwardation. In order to settle their current obligations and replenish their vaults for future delivery requirements, the bullion banks now regularly orchestrate predictable raids on paper price in order to create the selling conditions which give them cover to raid the "inventory" of the GLD for their own use.
...
More: http://www.tfmetalsreport.com/blog/5167/pillaging-gld
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Old 10-21-2013, 08:24 AM   #97
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Originally Posted by PMBug View Post:
Quote :
...
[GLD]May 6.2013:
Tonnes 1,062.30 - Ounces 34,153,900.65 - Value US $50.153 billion

May 3.2013:
Tonnes 1,065.61 - Ounces 34,260,271.68 - Value US $50.311 billion

May 2.2013:
Tonnes 1,069.21 - Ounces 34,376,316.61 - Value US $50.482 billion
...
http://harveyorgan.blogspot.com/2013...exonly-57.html

The "vacuum cleaners" are still sucking away.
~~~

From Friday:
Quote :
...
Oct 18:
Tonnes 882.23 - Ounces 28,364,468.08 - Value US $37.333 billion

Oct 17:
Tonnes 882.23 - Ounces 28,364,468.08 - Value US $37,411 billion

Oct 16:
Tonnes 885.53 - Ounces 28,470,642.88 - Value US $36,249 billion
...
http://harveyorgan.blogspot.com/2013...-purchase.html
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Old 10-24-2013, 07:04 AM   #98
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Quote :
...
Robust Asian demand for physical gold continues in complete contrast to liquidation by Western investors over the past two years. Shanghai premiums vs. London spot were up to 7% this year. Below is a chart of year to date Chinese imports vs. liquidation of ETFs:


...
http://kingworldnews.com/kingworldne...Beginning.html
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Old 10-24-2013, 07:20 AM   #99
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SRSrocco says silver "does not make sense":
Quote :
...
In a little more than a half a year, the silver stocks at the Shanghai warehouses have declined 692 tonnes or 62% of their total before the April 12th silver & gold price take-down. It is quite interesting that the silver inventories in Shanghai continue to decline, even though at a slower pace in the past month, while the Comex silver levels remain about the same as they were in April.

Lastly, there are some very interesting trends taking place with U.S. scrap silver exports that I will discuss in a later article. Let’s just say, silver scrap from the United States is showing some significant changes in the amount and type that is being exported.
...
http://srsroccoreport.com/shanghai-s...ue-to-decline/

No word (yet?) on any potential correlation of COMEX silver stocks and SLV inventories mirroring what's happening in gold with GLD/COMEX.
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Old 10-25-2013, 09:22 AM   #100
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“I see down the road a real decrease in gold production and to a lesser degree in base metal,”

Big miners offer bleak outlook for gold, metals:

http://www.marketwatch.com/story/big...5?pagenumber=2
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