30 August 2013

COMEX Registered Gold Drops To 702,000 Ounces On the Day Before Delivery End

About 11,600 ounces of gold were added to the eligible storage facility at HSBC, and 22,446 ounces were transferred from registered (deliverable) status to eligible storage.  This is the activity which occurred on Thursday which was reported today.

The total ounces of registered deliverable gold have fallen to 702,488 ounces of gold bullion. 

The total ounces of gold stored in COMEX authorized warehouses remains a little over 7 million ounces.

September is not a delivery month on the COMEX.  But most gold in the world changes hands in exchanges like Shanghai and London.  And they will be open for business as always.

Ironically September is often a good month for gold on a seasonal basis.

The New York crowd may push the price around the plate, but on an historical basis their hands and mouths are moving quickly, but their pockets are light.   And won't that be a day of days when the accounts are finally called to be reckoned.

Weighed, and found wanting.

Stand and deliver.