Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Technical Scoop - Weekend Update August 19 2018
By: David Chapman

Bridging the ‘fourth turning’ with gold
By: Michael J. Kosares

Bitcoin: Landing Gear Engaged. Bottom Is Still a Process
By: Ryan Wilday

The Good News Economy
By: John Mauldin

Great News For (The Remaining) Gold Bugs: Gold AND Silver Futures Speculators Are Now Net Short
By: John Rubino

BIG TROUBLE BREWING AT THE BAKKEN: Rapid Rise In Water Production Signals Red Flag Warning
By: Steve St. Angelo

Nine Years. Is That Enough?
By: Arkadiusz Sieron

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 2% and 3% on the Week
By: Chris Mullen, Gold Seeker Report

COT Gold, Silver and US Dollar Index Report - August 17, 2018
By: GoldSeek.com

Why the uranium price must go up
By: Richard (Rick) Mills

 
Search

GoldSeek Web

 
JP MORGAN GOLD INVENTORIES: Fall A Stunning 33% In One Day


 -- Published: Friday, 24 October 2014 | Print  | Disqus 

By Steve St. Angelo, SRSrocco Report

As the increasingly volatile stock markets bounced back higher today,  JP Morgan experienced one of the largest withdrawals of gold from its inventories this year.  In just one day, a stunning 321,500 oz of gold (10 metric tons) were removed from JP Morgan’s Eligible inventories.

COMEX GOLD 102314

Total gold inventories at JP Morgan fell 33% from 983,693 oz yesterday, to 662,193 today.  Of course, this had to come from JP Morgan’s Eligible inventories, because there are only 176,436 oz of gold in their Registered inventories.

You will notice, that the amount is exactly 321,500 oz (10 metric tons) to the TEE… and as Harvey Organ and Bill Holter have commented, it’s extremely rare for a gold bar or series of gold bars to equal exactly 10 metric tons.  Instead, we should see a fraction of an amount shown as an example in the MANFRA, TORDELLA & BROOKES gold transfer of 29,752.630 oz from the Registered category to Eligible.

Looks like this transfer was LEGIT as we can see the fraction of 0.630 oz shown in the transfer.  I gather JP MORGAN feels that it doesn’t need to be bothered with accounting for these silly fractions, when they have to deal with much larger numbers such as the $70 trillion of Derivatives on their balance sheet.

It will be interesting to see if this 10 metric ton gold withdrawal from JP Morgan becomes an entry in one of the other Bank’s vaults in the next day or so.  Or maybe, it’s on its way to CHINA or INDIA.  Either way… just another interesting data point taking place as the broader stock markets continue to CONVULSE up and down like someone suffering from a HEART-ATTACK.

Please check back for new articles and updates at the SRSrocco Report.  You can also follow us at Twitter below:

SRSroccoReport Twitter Button


| Digg This Article
 -- Published: Friday, 24 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.