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J.P. Morgan Converts Almost All Of Its Eligible Gold To Registered Gold

|Includes:SPDR Gold Trust ETF (GLD)

And again, over the weekend, J.P. Morgan converted its eligible gold into registered gold. I predict that we will see the total gold stock decline once again as a rise in registered gold means people will take delivery.

J.P. Morgan has now almost converted all of its eligible gold into registered gold.

(click to enlarge)Click to enlarge

Chart 1: Gold Stock COMEX

Click to enlarge

On the silver stock, we don't see anything significant happen yet.

Stocks: GLD