Gold Daily and Silver Weekly Charts - Curiouser and Curiouser

As you know I reported last night that there was a huge weekly drain of gold from the Brinks vaults.

This follows on a similar drain from JP Morgan's COMEX registered vaults.

There is no increase reported in any of the other COMEX vaults.

The metal bears have three weeks before the first delivery notice day in the August Gold contract.

I believe gold lease rates were negative for a fourth day, which is quite unusual.

As a point of interest, I have included a snapshot of the Café visitors map this afternoon. I think you can see this for yourself in real time by clicking on the map to the left. The clientele changes with the passing of day into night.

This is pretty much all the information that I can see as well, just some simple headcounts with basic locations. There is no need for any more, and it is certainly not worth the trouble or expense of gathering it. The numbers are not large in comparison to many internet sites, but I like to think of the regulars as being rather special, each in their own way.

The participation from around the world is remarkable, and heartening. Asia and the western Pacific will be coming along in a few hours.

The Café is always open, and we keep a light on for you.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - A Record High Close on the SP 500

Stocks were on a tear since late yesterday afternoon when Fed Chairman Bernanke said that the Fed will have to remain accommodative for the foreseeable future.

I believe that the SP 500 turned in a new closing high today.

Techs are appearing a bit stretched.  I would not get in front of this, since after all, its only money.

NAV Premiums of Certain Precious Metal Trusts and Funds

CME Reports That Brinks Has a Seventy Percent Decline in Registered Gold Bullion Supply

Nick Laird of Sharelynx.com informs me that Brinks is 'now being depleted' of private gold holdings.

I am following up to make sure that there has not been an error in reporting.  The CME reports these figures one day in arrears, on a weekly basis, so the chart below is dated July 9. 

I have extended the calendar axis a bit to show the nearly vertical drop in inventory of registered bullion. 

In referring to the registered supply at Brinks, Nick notes that:

"Brinks is now being depleted.   They have gone from 447,199 on July 3rd to 134,525 on July 9th which is a drop of 312,674 oz."

If this is correct, then this is a decline of 70 percent in the gold held in private accounts at Brinks in just one week.

If this is data is correct, it would not be too much of a stretch to say that this has the appearance of 'a run on the bank.'   Again, I will wait to see if the CME issues a correction for this.  It seems almost incredible.

Where is the gold going?  It was not transferred from the registered to eligible category, and does not seem to have been transferred to any other COMEX vault.  I suspect it is flowing East.  And perhaps it is being taken to replace gold that has been rehypothecated from custodial vaults somewhere.

Someone seems to know something.   Rather odd things are happening.

One looks at this and wonders, what next?