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Katchum
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Albert Sung is the author of Correlation Economics, monitoring breaking economic news on a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at Ashland, a... More
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Correlation Economics
  • Large Drop In J.P. Morgan Gold Stock At COMEX 3 comments
    Dec 14, 2012 4:05 AM | about stocks: GLD

    I don't know what it means, but yesterday we saw the largest drop in total and eligible gold in about a year time. 322000 troy ounces of gold were taken away. That's 11,4% of all JP Morgan gold stock.

    (click to enlarge)

    Chart 1: COMEX gold

    Stocks: GLD
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  • Stilldazed
    , contributor
    Comments (2151) | Send Message
     
    Maybe JPM ran out of toilet paper and found a worthy use for all that paper gold.
    ;-)
    14 Dec 2012, 04:22 AM Reply Like
  • dieuwer
    , contributor
    Comments (2561) | Send Message
     
    "yesterday we saw..."

     

    Is that the little green and red blip in the chart? Hardly noticeable.
    14 Dec 2012, 08:37 AM Reply Like
  • Katchum
    , contributor
    Comments (556) | Send Message
     
    Author’s reply » Yes, do you know if it's significant? If you're sure it's not, then I won't report such things anymore.
    14 Dec 2012, 10:56 AM Reply Like
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