Weird Things Happening At COMEX

Jun. 04, 2016 2:16 AM ETGLD, SLV2 Comments
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Contrarian, Arbitrage, Commodities, Gold & Precious Metals

Contributor Since 2011

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 competitor of Dow Chemical. Today, he works as a regulatory compliance consultant at J&J, but his real passion will stay in macro-economics. His experience in the chemical and pharmaceutical industry allows him to monitor the economy from a process engineering standpoint, analyzing macro-economic charts, correlations and trends.

You have got to see this.

A huge inflow was seen yesterday at the COMEX in registered gold and I mean huge. We haven't seen these kind of numbers since 2013.

My correlations suggest that the GLD ETF is seeing the same inflows when this happens and I checked GLD yesterday and yes, we saw another 10 tonnes of gold inflows at the start of the month of June 2016. This bodes very well for the price of gold.

For silver we see continued tightening in physical silver. I expect to see silver explode in a month or two from now when the blue line intersects with zero.

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