from Silver Doctors:
Just 3-1/2 years ago in early 2011, COMEX warehouses held more than 11 million ounces of eligible gold, with JPM holding more than 3 million of these 11 million ounces. As of August 9, 2013, JPM’s eligible gold has fallen from 3+ million ounces to 361,606 ounces. Thus, it is safe to conclude that physical gold is being withdrawn from the COMEX warehouse due to a lack of trust in the global banking sector’s honesty and credibility. Though most statistics today discuss the collapse in eligible gold, I actually believe that the collapse in registered gold is more compelling. Recall that registered gold is the gold held at the COMEX that is available for delivery while eligible gold is not “eligible” for delivery.
It is interesting to note that just since last April, registered gold held at the COMEX depositories has collapsed from a total of 2,147,398 ounces to just 852,930 ounces. That is a collapse of 60% of the registered gold inventory in less than 4 months!
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