COMEX-Total-Gold-Inventories-012616EVERYTHING changed today…

 

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From the SRSRocco Report

Something big is about to take place on the Comex as Registered Gold inventories plunged an astonishing 73% in one day.

This is a very suprising update as Comex Gold inventories haven’t experienced much movement over the past few months.

Well, this all changed today as a stunning 201,345 oz (73%) of the total 275,325 oz of Registered Gold was transferred to the Eligible Category today:

COMEX-Gold-Inventories-012616

As we can see, 21,200 oz was transferred from Brinks Registered Inventories, 84,881 transferred from HSBC and 95,269 from Scotia Mocatta.  There are only 73,980 oz of Registered Gold remaining in the Comex inventories:

COMEX-Total-Gold-Inventories-012616

This is the lowest level of Registered Gold inventories on the Comex for more than 20 years. There are now only 2.3 metric tons of Registered Gold remaining at the Comex. 

This has to be one of the most surprising movements of Comex Registered Gold inventories ever.  It will be interesting to see what happens over the next few months as the broader stock markets continue to crash while precious metal physical investment surges.

It seems to me that this huge decline of Registered Gold Inventories suggests that the end of the Comex Exchange as a price setting mechanism is now even closer at hand.

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  1. Breaking it down into even simpler terms if the comex were an automobile and gold was the fuel one could say that they are running on empty.  Let’s say they will be running on fumes when the bank leverage ratio reaches 1000 to 1.  No worries.  It is a good time in history to have a stack.  More Silver.

    • 1000:1 sure is possible but I am betting that it will happen sooner… 500:1 looks good to me for the PM market SHTF scenario.

      Agree 100% that it IS a good time to have a stack… of everything we don’t want to do without when the SHTF.

       

    • Bernanke belongs in therapy.  There, he can play with his little choo-choo, building blocks, and even get to wear his cute little pink bunny outfit.

    • Gold is not money?  Well, dang… there goes 5,000+ years of recorded financial history.  lol

      I will be amazed if people like Bernanke don’t end up drooling and needing diapers before they are all done.

    • @Ed_B dont you recall Ron Paul pulling him in a congression query? He held up a silver dollar, referenced inflation, and asked old Ben if Gold was money? …after a guilty, lying pause he replied “No.” To which Dr. Paul inquired “If gold is not money, why does the federal reserve hold so much of it?” Bens Ultra-Retarded response was “Tradition”.

      As if ANY bank gives a rats @ss about any tradition anywhere. So funny, ol bens pants dangling on the floor when he replied! ????

    • @Shamus001

       

      Yes, I do recall that.  I’m not sure what that silver coin was.  It looked bigger than a silver dollar… ASE, maybe?  Anyway, there was an absolutely hilarious pic of Bernanke on Internet, where when Ron Paul pulled out a silver coin, Ben got a look on his face that was the same as what Count Dracula does whenever confronted by someone wielding a cross.  I fully expected Ben to spin away from that silver coin, through his cape over his face, turn into a bat, and flap away to safety.  😉

       

      “As if ANY bank gives a rats @ss about any tradition anywhere. So funny, ol bens pants dangling on the floor when he replied! “

      Right on with this, Bro.  Banksters ONLY care about 2 things in this world… money and power.  THAT IS ALL.  Everything else is just window dressing.

       

  2. Don’t get too excited.  ‘Registered’ gold is just the portion of all the ‘Eligible’ gold that has been deemed available for delivery.   They can just as easily (with a journal entry) move the gold back from the ‘eligible’ to ‘registered’.   Now if the ‘eligible’ gold went down 73% in one day that would mean big, big trouble at the COMEX.  For gold to be held in a COMEX warehouse it must be a uniform bar size and purity.  That makes it ‘eligible’.  If a big commercial then wants to make any of their ‘eligible’ gold available for delivery, then they reclassify it as ‘registered’.

    • I sometimes wonder if there might be someone over at the COMEX saying, “watch this”, just to get a good laugh… watching to see if the ‘stackers’ start screaming and running through the woods naked.

    • @UglyDog what if…. WHAT IF… The bulk, if not ALL of the “Eligible” entries were ALL rehypothicated entries, reflecting a gold sale or lease from the registered, and once the buyer took it, they made an entry to “eligible” because they still have the “rights” to it in a lease. You know, the double journal inventories we hear so much about!

    • Shammy…Rehypothicated double book entry nonexistent gold at the COMEX.   TPTB would never do a thing like that, would they?  Sarc off.:)

  3. Seems one of the few “players” left at the table has just raked 3 big stacks of those funky square “chips” off the table and into his coat pocket…only 2 stacks of blue chips left out there now to play with… He’s about to CALL IT A NIGHT and go find a hooker. (is that prime rib food line still open now?)..

  4. Means nothing, firstly the banks are all liars and no one audits this info at all, secondly Comex is a paper market and it doesn’t matter if they have only 2 ounces but say they have millions, they still control the price … for now.

    • “Means Nothing” ….Thats a pretty big statement there pal. As in HUGEly ignorant.

      In a financial system based on “faith” these numbers mean a lot! When a banks financials look weak (like Italy’s) bank runs happen! Why do they happen when they can just punch infinite digits and pad it? Because ITS NOT QUITE THAT FOO FOO….yet. these Oligarchs are still answerable to one another.

      In this instance, if people begin to panick that thr gold is going to be gone, then theyll rush for delivery, even if there were some available to be coaxed into the registered, it may not be enough to cover the “gold run”

  5. So, a position was move from registered to elegible. It can be transfered back tomorrow. Or not?
    COMEX has always to date re-stocked itself. If I were the biggest gold player, I’d play blogger with moves like this. Perhaps if I wanted the price to rise, at least for a while. taking your gold off the table makes the table raise bets. In your favor.

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