The Phaserl


JPM Eligible Gold Plunges To New Record Low, And Why It Could Have Been Much Worse

from Zero Hedge:

Back on April 25, in the aftermath of the latest epic precious metals takedown, we reported that something odd had happened: overnight, total Eligible gold held in the vaults of JPM dropped by 65%, or 260.8k ounces in one day, to a record low of only 141.6K ounces. Contrast that with the 2 million Eligible ounces the JPM vault at the basement of 1 CMP held when it reopened. Since that moment, many were curious if this may not be the start of the proverbial “run on the vault”, and whether JPM’s COMEX holdings could actually run out, and if so what happens then. And finally: is the dramatic plunge in gold related to any of this (and certainly to the Bundesbank’s repatriation of NY Fed gold for the next five years)?  In the ensuing days, JPM’s Eligible gold fluctuated in a tight range, until today, when another 22,780 oz were withdrawn from Blythe Masters’ metals cellar, bringing JPM’s eligible gold to a fresh record low of only 137,377 troy ounces.

But it gets worse…

Read More @

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

3 comments to JPM Eligible Gold Plunges To New Record Low, And Why It Could Have Been Much Worse

  • Frank Zak

    Gold will go force majeure someday. But, JPM
    can always get gold from other vendors right now
    if they run out.

    I would love to see gold drop to $1,000.

    Only gold is gold is gold. Nothing else.

    Time is on gold’s side.

  • AgShaman

    Gold is only worth $42 bucks….according to the US Treasury, but yeah, I’ll take a sale at $1000. That may bring sub $20 silver…which may cause everyone to “BTU” and try to load up….of course the vendors would probably close up shop and claim whatever excuse they could to avoid selling any at those price points…or ‘jack’ the premiums sky high to adjust for the paper trader’s “price discovery”

  • AK

    If Gold goes to $1,000 and Silver below $20, I am not so sure you will be able to buy any physical bullion and if you are, it will likely be at much higher premium than what it is today.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>