Gold Market 260619

Jun 19 Gold Market Morning Snapshot​

SFE Futures (Dragon Boat Festival today)
SGE Spot (Dragon Boat Festival today)
LBMA Spot (Juneteenth Holiday)
COMEX Jun26 Futures (Juneteenth Holiday)
MCX Futures $4,117.29
IBJA Spot $4,062.23

Quotestaxes/duties

Jun 19 Gold Vaults (ozt)​

GLD28K
COMEX63K

COMEX withdrawals are currently ~15.1% of Jun26 delivery requests
COMEX 5 DMA run rate 9,324d (from 963d)

COMEX 6-17​

63K ozt (2t) in MT&B

643 ozt (0.02t) from Loomis

148K ozt (4.6t) moved from [R] to [E] in Brinks (91K), JPM (14K), Loomis (4K), MT&B (39K)

COMEX Run Rate​

Remaining Vault Stock = 28M ozt (15.1M [R], 12.9M [E])

Net withdraw rate through last 5 days = 3K/day(from 29K/day)

Total vault stock run rate = 28M / 3K = ~9,324 (working) days (~466 months) (from 963d)

COMEX Jun26​

Jun26 contract cumulative deliveries = 37,218
Jun26 contract equivalent ozt = 3,721,800
Actual withdrawals in Jun ozt = 563,685.29

Jun withdrawals are now ~15.1% of Jun26 delivery requests.

COMEX Commentary​

Wednesday's tiny 63K ozt net deposit replaces a large 67K ozt net withdrawal in the 5 DMA window so the withdraw rate collapsed almost to zero.

GLD Assets​

World Gold Trust Services:2.6M shares
JPM:28K ozt (0.9t)
HSBC:ozt
ozt/shares ratio 0.091135 (from 0.091725)

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Previous report: https://www.pmbug.com/threads/gold-market-260618.9039/