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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from 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... More
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  • COMEX Gold: Large Conversion From Eligible To Registered Gold 3 comments
    Jan 31, 2013 5:36 PM | about stocks: GLD, PHYS

    I couldn't believe my eyes when I saw this. Suddenly we saw the J.P. Morgan vault get almost half of the eligible gold converted into registered gold.

    I have seen this before... I think someone wants delivery. Let me do some research on this...

    Edit: Yes indeed, we saw J.P. Morgan do the same with silver a year ago here. The consensus was that they are preparing for a large delivery to someone. They increased registered stock to prevent a COMEX default. This is also a sign of loss of confidence in paper gold and silver.

    Let's see what happens next, probably a decline in total stock.

    (click to enlarge)

    Chart 1: Gold Stock COMEX

    Stocks: GLD, PHYS
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  • dieuwer
    , contributor
    Comments (2942) | Send Message
    I suggest watching GLD and SLV inventories.
    1 Feb 2013, 08:22 AM Reply Like
  • Katchum
    , contributor
    Comments (613) | Send Message
    Author’s reply » Where can I find the data?
    1 Feb 2013, 11:21 AM Reply Like
  • dieuwer
    , contributor
    Comments (2942) | Send Message
    1 Feb 2013, 11:28 AM Reply Like
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