Friday, January 10, 2014

Gold Breakout: COMEX Gold Warehouse Registered Gold Inventory at 93 to 1 GLD, MUX, TNR.v, GDX

  Jesse reports the new all-time-high leverage at the COMEX with 93 owners for every ounce of Gold. Everything is primed for the fireworks in Gold now. After today's huge miss in Jobs numbers Gold is breaking out to the upside. Move above $1250 will make shorts to cover and we need to go over $1270  to confirm the double bottom formed at $1180 levels in 2013 now.

Glenn Beck: Where Is German Gold? GLD, TNR.v, MUX, GDX

"Glenn Beck is digging up the mystery of German Gold repatriation. With the reports that even small amount of the delivered Gold so far was melted beforehand we can be sure that there is no more original German Gold left. As we have discussed before, theGold smashing down has started with Venezuela's request for Gold to be returned back and last year Gold's bloodbath was assured with Germany seeking for its Gold to be returned as well."

Jesse's Cafe Americain:

Comex Warehouse Registered Gold Inventory at 93 to 1

Getting a bit thin.

As a reminder, this is open interest as a ratio to registered (deliverable) gold.

January is not an 'active month.'

Higher prices would likely move gold into that deliverable category, and there is quite a bit in delivery ready form in the eligible category.

February is shaping up to be an interesting month.

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