Gold Market 260627

Jun 27 Gold Vaults (ozt)​

GLD202K
COMEX132K

COMEX withdrawals are currently ~21.7% of Jun26 delivery requests
COMEX 5 DMA run rate 431d (from 1,103d)

COMEX 6-25​

ozt

132K ozt (4.1t) from JPM (97K), MT&B (36K)

155K ozt (4.8t) moved from [R] to [E] in Asahi (49K), HSBC (105K)

COMEX Run Rate​

Remaining Vault Stock = 27.7M ozt (14.8M [R], 12.9M [E])

Net withdraw rate through last 5 days = 64K/day (from 25K/day)

Total vault stock run rate = 27.7M / 64K = ~431 (working) days (~21.5 months) (from 1,103d)

COMEX Jun26​

Jun26 contract cumulative deliveries = 40,841
Jun26 contract equivalent ozt = 4,084,100
Actual withdrawals in Jun ozt = 886,290.49

Jun withdrawals are now ~21.7% of Jun26 delivery requests.

COMEX Commentary​

Thursday's 132K ozt net withdrawal replaces a 63K ozt net deposit in the 5 DMA window so the withdraw rate more than doubled (as expected).

GLD Assets​

World Gold Trust Services:700K shares
JPM:202K ozt (6.3t)
HSBC:ozt
ozt/shares ratio 0.091986 (from 0.092376)

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Previous report: https://www.pmbug.com/threads/gold-market-260626.9060/