Jun 9 Gold Market Morning Snapshot
Quotes
LBMA Spot
Yesterday gold opened ~$4,330 and closed ~$4,340, drfite lower over night and has recovered to ~$4,330 this morning.
EFP Spreads (ET)
Spot price @ 06:26 : $4,334.76
Jun26 = -$2.01 vs +$1.27 Previously (spot @ 05:40 : $4,329.21)
Jul26 = +$8.84 vs +$7.10 (spot @ 06:22 : $4,331.76)
Aug26 = +$21.24 vs +$27.66
EFP Commentary
Jun26 EFP spread turns slightly negative again. It's probably not sufficient arbitrage profit to encourage sending gold to London/LBMA.
India
MCX Jun26 [GOLD 1kg] : $4,963.25 (less 15% BCD+AISD = $4,218.76)
IBJA PM spot : $4,976.27 (less 15% BCD+AISD = $4,229.83)
China
SGE $4,338.95
SFE $4,350.98
SGE premium to LBMA spot = ~$11 (
SFE premium to SGE = $12.03 (
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Jun 9 Gold Vaults (ozt)
GLD
COMEX
COMEX withdrawals are currently ~4.1% of Jun26 delivery requests
COMEX 5 DMA run rate 2,060d (
COMEX 6-5
102K ozt (3.2t) moved from [R] to [E] in Asahi (13K), Brinks (47K), MT&B (22K), StoneX (20K)
COMEX Run Rate
Remaining Vault Stock = 28.2M ozt (15.2M [R], 13.1M [E])
Net withdraw rate through last 5 days = 14K/day(
Total vault stock run rate = 28.2M / 14K = ~2,060 (working) days (~103 months) (
COMEX Jun26
Jun26 contract cumulative deliveries = 28,985
Jun26 contract equivalent ozt = 2,898,500
Actual withdrawals in Jun ozt = 117,782.39
Jun withdrawals are now ~4.1% of Jun26 delivery requests.
COMEX Commentary
Friday's 14K net withdrawal replaces a zero activity day in the 5 DMA window so the withdraw rate increased. A large deposit will roll out of the 5DMA window next, so the withdraw rate could grow significantly if another net withdrawal gets posted again.
GLD Assets
World Gold Trust Services:
JPM:
HSBC:
ozt/shares ratio 0.092273 (=from 0.092273)
Apparently, there was no activity yesterday.
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Previous report: https://www.pmbug.com/threads/gold-market-260608.9007/