About Me

My photo
This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.

Wednesday, January 29, 2014

JPM Sees 28% Withdrawal From Gold Vault In One Day As Another 10 Tons Depart -- By Tyler Durden, Zero Hedge

On Friday, when we remarked on the biggest recorded withdrawal from the JPM gold vault, we said: "Something tells us the next few days will see matching withdrawals from JPM's gold vault, which at last check was officially owned by the Chinese." As it turns out we were absolutely correct: according to the just released update from Comex, on Monday the infamous gold vault located below 1 C(hina)MP saw an identical withdrawal of 321,500 ounces, matching the record withdrawal, and amounting to 28% of all JPM gold in storage. Adding to Friday's drop, this means that a record 47% of JPM's gold has been withdrawan in a few short days: a trend we are certain will continue until the total holdings of the vault drop to new record lows.


This withdrawal means total JPM gold slides from 1.128 million ounces to 816,027 ounces, down from 1.459 million ounces a week ago.

 (We hope that Zero Hedge will not mind that we have posted this entire article -- something we try very hard to avoid.  Every word and every chart seems essential.)

 (Click link below to read more)
READ MORE Sphere: Related Content

No comments:

Post a Comment