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Comex Registered Gold Inventories Plummet 73% In One Day

By Steve St. AngeloCommoditiesJan 27, 2016 12:59AM ET
www.investing.com/analysis/comex-registered-gold-inventories-plummet-73-in-one-day-381799
Comex Registered Gold Inventories Plummet 73% In One Day
By Steve St. Angelo   |  Jan 27, 2016 12:59AM ET
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Looks like something big is about to take place on the Comex as Registered gold inventories declined a whopping 73% in one day. This is a very surprising update as Comex gold inventories haven’t experienced much movement over the past few months.

Well, this all changed today as a stunning 201,345 oz (73%) of the total 275,325 oz of Registered gold was transferred to the Eligible Category today:

COMEX Gold Inventories
COMEX Gold Inventories

As we can see, 21,200 oz was transferred from Brinks Registered Inventories, 84,881 transferred from HSBC and 95,269 from Scotia Mocatta. There are only 73,980 oz of Registered gold remaining in the Comex inventories:

COMEX Total Gold Inventories
COMEX Total Gold Inventories

This is the lowest level of Registered gold inventories on the Comex for more than 20 years. There are now only 2.3 metric tons of Registered gold remaining at the Comex.

This has to be one of the most surprising movements of Comex Registered gold inventories ever. It will be interesting to see what happens over the next few months as the broader stock markets continue to crash while precious metal physical investment surges.It seems to me that this huge decline of Registered Gold Inventories suggests that the end of the Comex Exchange as a price setting mechanism is now even closer at hand.

Comex Registered Gold Inventories Plummet 73% In One Day
 

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Comex Registered Gold Inventories Plummet 73% In One Day

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