Curious why over the past few months JPM has quietly been
accumulating a substantial amount of eligible physical gold (even as its
registered gold inventory is the lowest it has ever been at just 87K
ounces since
December 13, 2013 when 147K ounces of gold
was withdrawn - keep that date in mind for a few minutes)? This may
have something to do with it: moments ago the daily
Comex gold vault report confirmed
what many expected, namely that the JPM accumulation was merely in
advance anticipation of major withdrawals. How major? Well, on January
23, JPM saw 321,500 ounces of gold depart in one day.
This was tied for the single biggest daily withdrawal in history!The last time JPM had an identically sized withdrawal?
December 13....
2012.
Something tells us the next few days will see matching withdrwawals
from JPM's gold vault, which at last check was officially owned by the
Chinese.
And for those wondering how JPM's total gold holdings look over time here it is:
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