This is for the gold June contract which could be significant.
HSBC, also known as the custodian for GLD, delivered 101,200 ounces of gold yesterday from their house account. The gold was taken up by the house accounts at Nova Scotia and JPM.
Nothing much happened with silver.
And a chunk of gold was moved, at least on the books, in the warehouses from HSBC to JPM as well.
Both the precious metals and equities are going to break up or down sometime in the next seven to ten days. At least this seems to be the case judging by the 'tension on the tape.'
Have a pleasant evening.