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Katchum
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Albert Sung is the author of Correlation Economics, monitoring breaking economic news on 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 Ashland, a... More
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Correlation Economics
  • COMEX Default Nearing 0 comments
    Jul 5, 2013 3:45 PM | about stocks: GLD

    A 30% drop in registered gold at the Brink's vault and a 15% drop in registered gold at Scotia Mocatta marks a huge total drop of more than 200000 ounces of gold at the COMEX.

    (click to enlarge)

    We are on course for a total sell out in physical gold at the COMEX at the end of the summer. We also see this in the spiking gold lease rates and lower gold forward rates.

    It is going to be interesting. What happens when the blue line intersects with zero? Any predictions?

    Stocks: GLD
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