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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's Alarming Plunge In Inventory 1 comment
    Apr 25, 2013 3:31 PM

    Today we see a quite alarming drop in the COMEX gold stock. Do you see how the total gold stock (green chart) is plunging? Do you see how the registered gold (blue chart) is disappearing?

    I know the COMEX can't default, but we will see cash settlements for gold deliveries like never before. If we see the trend going further down at this rate, you won't get your physical gold, I can assure you that.

    (click to enlarge)

    Silver open interest is still rising with higher stock. I don't expect a reversal yet in the silver price down trend, but I see signs of a topping out.

    (click to enlarge)

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  • dieuwer
    , contributor
    Comments (2946) | Send Message
    Many people will call a forced cash settlement a "default".
    26 Apr 2013, 01:08 AM Reply Like
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