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  • easygoin_al easygoin_al Apr 9, 2013 2:02 PM Flag

    Comex Gold Inventories Collapse By Largest Amount Ever On Record

    As a gold futures exchange transforms to a cash exchange, expect this phenomenon to appear first, followed by an increasing price of gold, followed by 100 percent margin, followed by delivery not in kind but cash settled.

    Comex Gold Inventories Collapse By Largest Amount Ever On Record
    April 9, 2013 | By Tekoa Da Silva

    Click here to view the original article…

    A stunning piece of information was brought to my attention yesterday. Amid all the mainstream talk of the end of the gold bull market (and the end of the gold mining industry), something has been discretely happening behind the scenes.

    Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001 (roughly the beginning of the bull market).

    Sentiment: Strong Buy

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    • A dutch bank could not deliver gold,so we can hope that more people ask for delivery.We know a lot won't get the gold promised.,they may offer devalued fiat.
      Lets get the party started.

    • buddy - do you know what any of this means or do you just past Jim's postings?

    • Total drainage of physical inventories reached nearly 2 million oz.’s of gold, which at today’s prices represent roughly $3,000,000,000 dollars.

      According to chart sage Nick Laird, this data indicates that, “Eligible stocks which are owned in LBMA/Comex good delivery form are being drawn down—which means they are being removed from the warehouses. As to how and why they are [being] removed, that is a mystery. [Up until now], eligible stocks were on the continual increase throughout the bull market. Now that trend has changed.”

      What is most interesting in reviewing this chart data, is seeing where the largest drops have occurred. The largest inventory drainage is being reported from JP Morgan Chase & Scotia Mocatta warehouses. See charts below.

      Sentiment: Strong Buy

14.57+0.41(+2.90%)Feb 10 4:02 PMEST