Thursday, November 07, 2013

Comex Registered Gold Falls To New Low at 640,552 Ounces - Claims Per Ounce Still Around High of 59 GLD, MUX, TNR.v, GDX

  Jesse reports another New Low at COMEX. With this rate of outflow COMEX will be empty very soon - can we assume that now higher Gold prices will come to save it?

Gold Catalyst: COMEX Deliverable Gold Falls to 658,443 Ounces, Claims Per Deliverable Ounce at 55 GLD, MUX, TNR.v, GDX

"Jesse reports the COMEX deliverable Gold inventory which goes on fumes now. Maybe this will be the Catalyst Jim Puplava is looking for the Gold? The Game of Musical Chairs in the Gold Fractional Reserve System is getting more dangerous for its participants by the day now.
  As ZeroHedge has put it with the chart above: "when it comes to physical gold and China's appetite for it, one word explains it best:unstoppable."

Gold: As Good As It Gets…For A Buy GLD, MUX, TNR.v, GDX

 "Aden sisters provide us with very interesting long-term historical charts for Gold and their applications for the potential next move.  These observations are particularly important, when you take in the account the recent COMEX situation and China's demand for Gold."

Jesse's Cafe American:

Comex Registered Gold Falls To New Low at 640,552 Ounces - Claims Per Ounce Still Around High of 59

There was a withdrawal of 17,988 registered ounces of gold from the Scotia Mocatta warehouse on Tuesday.

The three kilogram bars representing 96.46 ounces came back to the registered category at Brinks.

This brings the total ounces of deliverable (registered) gold down to a new low of 640,552 ounces for this leg of the gold bull market.

The 'owners per ounce' of registered gold is still bumping around the all time high of 59 potential claims per ounce.  For the interest of those who have asked, I include the comparable charts for silver this evening as well.

As claims are presented at these prices, gold will have to be delivered.  If the gold becomes scarce at these prices, higher prices may be called for to make additional supply available. The bullion banks can continue to resort to leasing gold from the central banks and using it to settle claims, but that particular game seems to be coming to a sad and sorry end.  When Germany asked for the return of its gold and was flatly refused, we heard the faint sounds of a fat lady preparing to sing.

Weighed and found wanting.

Stand and deliver.

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