JP MORGAN’s CUSTOMER GOLD INVENTORY FALLS 61% OVERNIGHT!

EmptyVaultJP Morgan’s Eligible (Customer) gold inventory fell a whopping 61% today.  That’s 6.7 metric tonnes of gold taken off of JP Morgan’s inventory.  As you can see in the chart below, there are only 136,380 oz of gold left in Morgan’s Customer inventory.   Basically, JP Morgan has a little more than 4 metric tonnes of gold left in its Eligible or Customer inventory.
Furthermore, that 217,844 oz withdraw from JP Morgan’s vault accounted for 28% of its total inventory….meaning JP Morgan only has approximately 555,000 oz left in its total inventory.

 

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It will be interesting going forward here to see if JP Morgan will be able to satisfy its withdrawal requests of gold.  The more the bullion banks push the price of gold down, the more gold will be withdrawn from the Comex.

 

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Comments

  1. Getting close to a default…

    • WILL SOMEONE PLEASE GIVE ME A HAND WITH ALL OF THIS!  200k oz isnt as easily stored as you might think… I don’t know, I’m thinking of stashing it all under my kitchen sink… Not like anyone cleans up around here. :)

    • @shamus001
      200,000 oz’ s  wish I had problems like that. May want to arrange a boating accident seing as we all know. 
       

  2. This ‘flight of giants’ has been an amusing side-show for a good year now. Willie’s suspicion that proprietary holdings in bullion vaults could end up ‘disappeared’, may very well prove prescient. Sprott’s calculations MORE than imply such a ‘contingency’ act of desperation is HIGHLY plausible. After all … metal can’t be printed.

  3. Please explain:
     
    Did the customers take delivery?
    Is it being sent to Germany?
    In short, who withdrew this gold?

    • it is not delivery, in order to be delivery the disappearance must come from the registered column.  this came from eligible, meaning customer who either deposited gold with JPM or had previously taken delivery and left gold on storage with JPM.
       
      Reason for no impact is that the net change to total stocks was more or less a wash.  fluctuates up and down but trending sideays.  that is not intended to be dismissive, i think this number is important and should be watched (total gold, not just JPM)

  4. Does any of this information even mean anything?    It’s not a secret, everyone knows about this, yet the spot price does nothing.
     

    • ZMAN,
      Really doesn’t make any sense does it? Seems that there is no real information heading our way by the Guru’s that state what the future will bring us. If anything positive happens, it’s taken away constantly. It’s going to be a long, long road home I think.
       
      Ranger

    • to me this does make sense, we lost in eligible gold, but remember eligible gold is just gold sitting in a warehouse that you or i own that happens to meet comex specs.  on the same day we lost this eligible we saw scotia add to their ‘registered’ stocks, meaning those people just mentioned holding stocks in the warehouse decided to turn over their ownershipo at spot price.  to me even though the volume is smaller this action speaks more loudly.

  5. Wake me up before you go-go 
    Don’t leave me hanging on like a yo-yo
    Wake me up before you go-go
    I don’t want to miss it when you hit that high.

  6. Ranger, I am convinced that for gold and silver to hit new all-time highs, the finincial system has to end as we know it.   Gold and silver are not just going to trade into the 2500 and 65 range and life moves on, that is not going to happen.
    This is not the 70′s, this is a end game for all major currencies, it’s not the end of the world, but it’s a big change.

  7. One ton of gold is a cube 15 in by 15 in by 15 in.  About 2 cu. ft.   Back in my moving and storage days we would pick up boxes filled with all sorts of stuff including heavy items in what was called book cartons, 1.5 cu ft. or 3 cubes.  3 cu ft
    With a good hand truck or two this 4 tons contained in wooden boxes along with  a couple of pallet jacks, my homies and me could be put the gold  two hand trucks and move it with  by 2 men, maybe 4,  if there were inclines and sloping floor.
    If JPM needs help shipping the phyzz I’ll be glad to help out.  We could rehypothecate those 4 tons easy as pie   Oh yeah, get me a bobtail truck with a lift gate too.   See ya, Dimon, you miserable f****

  8. lol 200k ounces… lol…. of gold no doubt…

  9. Haha, I try to throw some humor in there, time to time. I made a Yoda joke in the spy thread when someone talked about Yottabytes or something like that… Man I was laughing out loud when I typed it, but no one even noticed. :(  that sucked lol!

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