Big COMEX Gold Withdrawals & New Record Low Dealer Inventory

By SR Srocco at SRSrocco Report –

After a brief pause in the decline of Comex Gold inventories, it looks like it has continued once again as there were several big withdrawals over the past few days.  Not only was there a large removal of gold from the Comex today, the Registered (Dealer) inventories are now at a new record low.

Scotia Mocatta had 63,786 oz of gold withdrawn from its Registered category.  This is quite significant as Scotia Mocatta’s total Registered gold inventories fell 41% in one day from 152,409 oz to 88,532 oz.

Furthermore, you will notice that the total Registered gold inventories are now down to record low 416,563 oz.  The gold in the Eligible category is held by Customers at the Comex while the Registered inventories are the Dealer stocks.

A day prior to this update, there was 52,539 oz of gold withdrawn from JP Morgan’s Eligible category.

We can see just how much the Registered inventories have fallen since the take-down in the price of gold in April of 2013.  The Comex held nearly 3 million oz of gold in its Registered category, but today it has fallen 86% to 416,563 oz.

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