Physical vs. Paper: The Shanghai Gold Exchange vs. the COMEX

When push comes to shove, the COMEX is only pushing paper.

Weighed, and found wanting.

Shanghai Gold Exchange (SGE)

Weekly Gold Delivery From Vault

The above graph of physical gold delivery out of the Shanghai Gold Exchange (SGE) vaults was prepared by @KoosJansen based on the weekly reports from the Chinese portion of the SGE site. The SGE has confirmed these are deliveries from the vault and the numbers are updated on a weekly basis (each Friday). I will publish the links to the exact Chinese pages next week and will ensure there is updated weekly delivery data available here.

Monthly Physical Delivery From Vault: SGE Versus COMEX

The above graph of monthly gold delivery from vault demonstrates very clearly what many have expressed repeatedly on sites such as KingWorldNews -- the COMEX is a paper gold market while the SGE is quite clearly a world class market for physical gold.

Source: GoldMiner Pulse

Gold Daily and Silver Weekly Charts - FOMC Next Week

Silver stood like a champ today, resisting the early efforts that took gold lower.

And both came back into the close for modest gains, even while stocks turned in a losing week.

FOMC has a two day meeting next week. This will provide a nice opportunity for the scare tactics of the Wall Street insiders.  And perhaps for some of us who see things as they are.

See you Sunday evening.

SP 500 and NDX Futures Daily Charts - Eyes Wide Shut

I enjoyed this commentary from Yves: Is the Fed Going to Dial Down Its Taper Talk?

There is a two day FOMC meeting next week that is most likely to be an opportunity for speculation and jawboning.

Have a pleasant weekend.

NAV Premiums of Certain Precious Metal Trusts and Funds

Plenty of gloom in the premiums which are all negative, but so far the traditional Friday bughunt has failed to materialize. It was getting a little ridiculous, like stock 'Rally Tuesday.'

Next week is the FOMC meeting, a two day affair. Perhaps they are saving their ammo.