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AUGUST GOLD OUNCES STANDING:42.815 TONNES/GLD LOSES A MASSIVE 6.24 TONNES OF GOLD YET SLV GAINS A MASSIVE 2.185 MILLION OZ

from Harvey Organ:

JAPAN REPORTS A TERRIBLE TRADE REPORT OF LOWER EXPORTS AND LOWER IMPORTS/UKRAINE PRESIDENT POROSHENKO WARNS OF A FULL SCALE WAR WITH RUSSIA/TURKEY NOW HEADING TOWARDS RUSSIA AS THE USA ARE PULLING OUT THEIR NUKES AT INCIRLIK/HARLEY DAVIDSON MAY JOIN CHRYSLER WITH CRIMINAL CHARGES ON GAS EMISSIONS

For the August gold contract month, we had a small sized 66 notices served upon for 6600 ounces. The total number of notices filed so far for delivery: 12,923 for 1,292,300 oz or tonnes or 40.195 tonnes. The total amount of gold standing for August is 42.82 tonnes.

In silver we had 0 notices served upon for NIL oz. The total number of notices filed so far this month: 393 for 1,965,000 oz.

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2 comments to AUGUST GOLD OUNCES STANDING:42.815 TONNES/GLD LOSES A MASSIVE 6.24 TONNES OF GOLD YET SLV GAINS A MASSIVE 2.185 MILLION OZ

  • Geo

    “AUGUST GOLD OUNCES STANDING:42.815 TONNES/GLD LOSES A MASSIVE 6.24 TONNES OF GOLD….”

    How reliable are GLD’s holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund. Some other red flags I’ve stumbled upon, verified and welcome everyone else to verify for themselves:

    “Did anyone try calling the GLD hotline at (866) 320 4053 in search of numerical details on GLD’s insurance? The prospectus vaguely states “The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody.” When I asked about how much of the gold was insured, the representative proceeded to act as if he didn’t know and said they were just the “marketing agent” for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors.

    I remember there was a highly publicized visit by CNBC’s Bob Pisani to GLD’s gold vault. This visit was organized by GLD’s management to prove the existence of GLD’s gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this “GLD” bar was actually owned by ETF Securities.”

  • Ed_B

    Harvey never seems to grasp the idea that metals ETFs BUY and SELL metals in line with their customers selling and buying their ETF shares. GLD and SLV don’t LOSE anything. They either buy metal (clients buying shares) or sell metal (clients selling shares). This is how they invest incoming capital and redeem shares. High finance? Nope… just arithmetic.

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