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COMEX Gold: Large Conversion From Eligible To Registered Gold 3 comments
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
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StockTalks
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Central Banks Leasing Gold, seems to come to an end. http://seekingalpha.com/a/afin $GLD $PHYS
Apr 9, 2012
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