Longtime readers will recall that we've been covering the ongoing depletion of the GLD since early 2013. After today's massive withdrawal, the total alleged "inventory" of the GLD now stands at a multi-year low of just 751.96 metric tonnes and down 5.8% on the year. This while the paper price of gold is actually up on the year by nearly 4%.
The alleged "inventory" of the GLD began 2013 at 1,349.92 metric tonnes of "gold". Over the course of the year, while paper price declined from $1650 to $1200 or 27%, the "inventory" of the GLD declined to 798.22 mts or about 41%.
So far this year, even though paper price has recovered and, at times, has been up as much as 16%, the plundering of the GLD "inventory" has continued. Just today, the GLD registered a massive withdrawal of 8.97 metric tonnes or about 288,000 troy ounces of "gold". Each pallet you see below holds 192 London Bars for a total of 76,800 ounces making today's GLD withdrawal equivalent to: more at goldseek
Sentiment: Strong Sell