Skip to comments.Weekly COMEX Gold Inventories: Huge Gold Withdrawal From JPMorgan Warehouse Headed East
Posted on 01/26/2014 4:22:12 PM PST by Red in Blue PA
Last week, as many of gold investors may already know, we saw the largest one-day withdrawal in over a year as the JPMorgan (JPM) warehouse withdrew a stunning 321,500 ounces of gold (10 tonnes). Additionally, we also saw a large withdrawal from the Scotia Mocatta warehouse, which brings the total withdrawal for the week to almost 5% of all COMEX gold stocks.
As investors can see, last week's action finally saw a rise in registered gold by a small 5,002 ounces. But that was paired with a huge 350,968 ounce withdrawal from eligible gold stocks - the vast majority of it (321,500 ounces) coming out of the JPMorgan warehouse.
Now what is really interesting, and hasn't been blogged about too much in most of the gold blogs, is when that gold came in and where it's going.
The first thing to take note of is that the gold that was removed was an exact 321,500 ounce amount - not one ounce over or one ounce under 10 tonnes. That means the gold that was removed was not a standard COMEX bar (100 ounces), but rather kilo bars (32.15 troy ounce bars) - which are the preferred variety for Asian and Middle-Eastern buyers.
(Excerpt) Read more at seekingalpha.com ...
This was obviously not a withdrawal of gold bullion (or was it?).
Good thing they didnt have the gold in HSBC, or they would have had some splaining to do before they could get it.
Gold withdrawals, Bank of China suspending currency withdrawals—”There’s something happening here, What it is ain’t exactly clear...”
I’m not permitted to read page 2.
“Send Lawyers, Guns and Money.......The s—t has hit the fan.”
According to the piece it was.
HSCB bank in Britian is making it difficult to make cash withdrawals. The fear is that the surplus capital (deposits) of private individuals has been lent to the government in the for of bond purchases and that capital has been consumed with no real return on investment. There is a worldwide liquidity crisis. Chinese banks are sitting on the world’s biggest real estate bubble. They financed close to a trillion dollars of “ghost cities” that sit empty and are decaying.
SHTF very soon?
Yes Last thursday and friday were just coming attractions
China’s ghost towns: Satellite pictures show empty skyscraper cities
Why, have you been naughty? B^)
it was gold bullion
I have moved $25K in the last 3 weeks with no problem (between banks and brokerage accounts).
Do you have a credible source for this news?
Try doing that in China.
looks like 0failure is moving to prop up his favorite anti-Amerucan communist partner
We’ve been living on borrowed time for a long time. It’s got to hit the fan eventually and “eventually” gets closer by the day.
I don’t know if this helps but here’s another link:
Found that stinker!
Have NO IDEA how credible this news source is, (caveat emptor.)
OTH, if it is accurate, something evil this way comes.
27 posted on Sunday, January 26, 2014 5:17:26 PM by ConradofMontferrat