From the article:
“At this pace, the world’s biggest gold vault located below 1 CMP, and just next to the Fed’s own gold vault, will be empty in about 1.5-2 months.”
Got PHYSICAL gold?
– JPM Vault Gold Drops By 28.4% Overnight, Slides To Fresh Record Low As Withdrawals Accelerate (ZeroHedge, June 11, 2013):
With a massive 6,208 (or 80% of the total in the entire Comex system) Customer Delivery issues outstanding against JPM so far in June alone, many have been wondering – how and when will the firm reconcile what is seemingly more demand for JPM vaulted gold than the firm has in its possession?
While we still don’t have the answer, what we do know is that as of an hour ago when the Comex released its daily vault depository statistics, JPM has said goodbye to another 28.4% of all of its vaulted gold – the largest one day withdrawal since April 25, the result of the departure of 61.5% of its Eligible gold, as hundreds of thousands of registered ounces in the bast few weeks have seen warrant detachment.
Which means that as of last night, total gold held by JPM has fallen to a new fresh all time low of just 550k ounces, down from 768K the day before, and total eligible gold of only 136,380 troy oz in inventory (just over 4 metric tonnes) – also a record low.
Whoever is “running the JPM vault” shows no sign of relenting. At this pace, the world’s biggest gold vault located below 1 CMP, and just next to the Fed’s own gold vault, will be empty in about 1.5-2 months.