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.