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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
  • J.P. Morgan: Large Shift From Registered To Eligible Bullion 0 comments
    Dec 31, 2012 4:50 PM | about stocks: GLD, SLV

    It's official, registered gold and silver is being dumped. That means that open interest is declining in the COMEX.

    With that also the manipulation will end. And look who is transferring this registered silver and gold bullion into eligible assets. Yes, J.P. Morgan.

    J.P. Morgan's vault has 40% less physical gold and 16% less physical silver in just one day. Suddenly, the amount of registered gold has hit a multi month low.

    (click to enlarge)

    Chart 1: COMEX Gold

    (click to enlarge)

    Chart 2: COMEX Silver

    Disclosure: I am long AGQ.

    Stocks: GLD, SLV
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