I'm comparing the difference between the end of month total and [R]egistered vault stocks since October 1 (since the COMEX began draining heavily to support the LBMA). The total value reflects the *net* drain (inclusive of deposits). Dividing the [RW] by [TW] yields a percentage factor that can be multiplied by a drain rate to forecast the run rate for the [R] category. It's not an exact science (as estimating ever is a best guess endeavor), but it has been pretty consistent month over month.
Oct 1
Reg = 192,108,463.512
Total = 530,474,810.312
Feb 27
Reg = 88,775,861.164
Total = 357,565,373.328
Total (Net) Withdrawn [TW] = 172,909,436.984
Reg Withdrawn [RW] = 103,332,602.348
[RW] / [TW] = 59.76%
Mar 31
Reg = 76,420,296.482
Total = 327,659,953.958
Total (Net) Withdrawn [TW] = 202,814,856.354
Reg Withdrawn [RW] = 115,688,167.03
[RW] / [TW] = 57% (down from 60% at the end of February)
Run rate factor is shrinking as the COMEX withdrawals leaned more heavily on the [E]ligible category vault stock in March.
April 29
Reg = 80,834,817.664
Total = 314,627,921.169
Total (Net) Withdrawn [TW] = 215,846,889.143
Reg Withdrawn [RW] = 111,273,645.848
[RW] / [TW] = 51.55% (down from 57% at the end of March)
Run rate factor shrunk dramatically as the [R] category grew in April and 100% of vault drain is pulled from the [E] category vault stock.
Context:
Oct 1
Reg = 192,108,463.512
Total = 530,474,810.312
Feb 27
Reg = 88,775,861.164
Total = 357,565,373.328
Total (Net) Withdrawn [TW] = 172,909,436.984
Reg Withdrawn [RW] = 103,332,602.348
[RW] / [TW] = 59.76%
Mar 31
Reg = 76,420,296.482
Total = 327,659,953.958
Total (Net) Withdrawn [TW] = 202,814,856.354
Reg Withdrawn [RW] = 115,688,167.03
[RW] / [TW] = 57% (down from 60% at the end of February)
Run rate factor is shrinking as the COMEX withdrawals leaned more heavily on the [E]ligible category vault stock in March.
April 29
Reg = 80,834,817.664
Total = 314,627,921.169
Total (Net) Withdrawn [TW] = 215,846,889.143
Reg Withdrawn [RW] = 111,273,645.848
[RW] / [TW] = 51.55% (down from 57% at the end of March)
Run rate factor shrunk dramatically as the [R] category grew in April and 100% of vault drain is pulled from the [E] category vault stock.
Context:
