As the paper price of gold falls even lower due to market manipulation, gold continues to bleed from the COMEX Warehouse stocks. Today, another 156,310 ounces were removed from the Customer inventories. What is even more interesting is how much gold has been removed from the COMEX since the beginning of the year.
If we look at the COMEX Inventory table below, we can see that 64,177 oz were removed from HSBC and 92,133 oz were removed from Scotia Mocatta. Again, both of these were withdrawn from the Eligible or Customer Inventories.
While HSBC and Scotia Mocatta can afford these sort of gold withdrawals from their customer inventories, as you can see, JP Morgan cannot with only 141,197 oz remaining. Basically, the gold that was removed from these two bank vaults, would have totally wiped out JP Morgan’s remaining customer inventory.
Furthermore, as we can see from the chart below, Gold Continues to Bleed from the Comex:
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