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.)
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