from Jesse’s Café Américain:
Registered (deliverable) gold on the COMEX fell to a new low as JPM took delivery of 28,809 ounces from Scotia Mocatta.
There were a few transfers from the Eligible to Registered category with the only one of note being 4,605 ounces at Scotia Mocatta. This is activity that occurred on Thursday. We will have the information on Friday next week. Let’s see if the higher prices have shaken any more gold loose from weaker hands.
Next week we will see an option expiry on the COMEX for the precious metals on Tuesday, and the end of the August delivery period on Friday.
The ‘owners per ounce’ remains very high at a little over 48 potential claims for every ounce of gold in the registered (deliverable) category. It will take higher prices to move more of the gold from ‘eligible,’ or stored in an approved COMEX warehouse, to ‘registered,’ or available for delivery.
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