The CME's Daily Delivery Report showed that 145 gold and zero silver contracts were posted for delivery within the Comex-approved depositories on Monday. The short/issuer on 140 of those contracts was Barclays. They also stopped 50 contracts as well. HSBC USA stopped another 65 contracts. The link to yesterday's Issuers and Stoppers Report is here.
There were no reported changes in GLD on Thursday---but over at SLV there was a big surprise in store. After a huge deposit of 3.85 million troy ounces on Tuesday, there was a big withdrawal of 2,212,315 troy ounces yesterday.
The only answer I have for this, is something that Ted Butler has been talking about for the last couple of years. He suspects that a big buyer has been purchasing shares by the truckload [read JPMorgan Chase] and has been continuously redeeming their shares for physical metal so they don't exceed SLV reporting requirements. In a nutshell, this means that JPM is using SLV as a vehicle to load up on the shares---and the physical metal at the same time---without having to report it to anyone. This is over and above what they show in their Comex-approved depository.
This may also have been what's happening in GLD since the start of they year as well.