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

GoldSeek Radio: Michael Pento, Ryan Walsh and Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update January 21 2019
By: David Chapman

Semiconductor Sector: Watch the Early Bird in 2019
By: Gary Tanashian

Bull in the China Shop
By: John Mauldin

No, Barron's, the gold supply can be and has been increased much -- with imaginary metal
By: Chris Powell

Gold Stocks Remain in a Downtrend
By: Jordan Roy-Byrne CMT, MFTA

U.S. SHALE OIL INDUSTRY: Not In The Business To Make Money, But To Take Money
By: Steve St. Angelo

Brexit, EU, Germany, China and Yellow Vests In 2019 Ė Something Wicked This Way Comes
By: GoldCore

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 1 18 2019
By: Ira Epstein

 
Search

GoldSeek Web

 
Big Chunk Of JP Morganís Gold Holdings Withdrawn In One Day


 -- Published: Sunday, 2 August 2015 | Print  | Disqus 

By Steve St. Angelo, SRSrocco Report

In just one day, a big chunk of JP Morganís gold was withdrawn from the COMEX.  Itís been a while since we have seen such a large single withdrawal.  According to the CME Groupís Friday Warehouse Depository gold stocks, a whopping 200,752 ounces of gold were removed from JP Morganís Eligible category.

If we look at the table below, we can see JP Morganís total gold inventories fell from 1,398,214 oz on Thursday (7/30/2015) to 1,197,462 oz:

COMEX Gold Inventories 73115

Basically, JP Morgan lost nearly 15% of its total gold inventories in one day.  You will notice that JP Morgan only has 115,754 oz of gold in its Registered category.  This is gold that is ready to be delivered.  This 200,752 oz gold withdrawal would have totally wiped out JP Morganís Registered gold inventories.

Furthermore, there was another large 72,022 oz gold withdrawal from HSBC for a total of 272,871 oz from the two banks.  Not only are investors starting to be concerned about the Greek situation in Europe spinning out of control, there is growing fear of a possible meltdown of the broader stock markets this fall. 

This has sparked a huge increase in physical gold and silver buying shown by the record 170,000 oz of Gold Eagles sold in the month of July, including 5.5 million oz of Silver Eagles (even with the U.S. Mint suspending Silver Eagle sales for two weeks).

If you look at the COMEX Gold Inventory table closely, you will notice that the total Registered Gold inventories are a lousy 351,519 oz.  This is less than peanuts.  Two withdrawals like JP Morgan experienced on Thursday, would totally wipe out the Bankers Registered gold inventories.

I believe things will become quite interesting this fall.  Investors need to WAKE UP to the fact that there are very few excellent stores of wealth going forward.  Gold and silver are probably two right at the top of the list. 

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: Sunday, 2 August 2015 | 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.