Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Total Gold Stock At COMEX Hits New Low

|Includes:SPDR Gold Trust ETF (GLD), SLV

As predicted here, the total gold stock plunged to the lowest stock level since I monitored the COMEX, namely: 10676012 troy ounces.

This was of course obvious when J.P. Morgan swapped eligible gold into registered gold a few weeks ago.

(Probably Soros is selling his GLD and now taking delivery...)

Chart 1: Gold COMEX

On the silver front we still see a huge increase in stock (and therefore also increase in open interest) (Chart 2).

Chart 2: Silver COMEX

It's surprising to see this huge divergence between silver and gold. I don't know what it means...

Disclosure: I am long AGQ.

Stocks: GLD, SLV