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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
  • Media Ignoring Plunging COMEX Gold Inventories 0 comments
    Jan 15, 2014 3:39 PM | about stocks: GLD

    I always get a rush when we get a new low in registered gold at the COMEX and today it's bull's eye again.

    (click to enlarge)

    COMEX Gold

    We hit a new record low of 370 thousand ounces at the COMEX gold.

    Indeed, leverage is going up exponentially. We are now at ratio eligible to registered gold of 20.

    (click to enlarge)

    And what I find very amazing is that the media is ignoring this in our face.

    Take for example this article.

    I quote what they say about silver:

    Stockpiles of the metal on the Comex on Jan. 8 reached 176.88 million ounces on Jan. 8, the highest since July 1997. In 2013, supplies rose for the third straight year, the longest run in a decade.

    But nowhere they mention the plunging stock at the gold warehouses. Keep your blindfolds on...

    P.S.: China is now removing bank restrictions to import gold into China. This exponential curve will only accelerate.

    Stocks: GLD
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