SP 500 and NDX Futures Daily Charts - Holiday Week

"Not what we say about our blessings, but how we use them, is the true measure of our thanksgiving."

W. T. Purkiser

Gold Bullion ETF and Fund Drains From the Beginning of 2013 - Comex Registered at 69 to 1

"We must always tell what we see.  Above all, and this is more difficult, we must always see what we see."

Charles Péguy

The first chart below shows the amount of gold that has been taken out of the vaults of various funds and ETFs since the beginning of this year.

The number in black is the total number of tonnes that have been removed from their vaults, presumably to be sold off into the market, most likely heading for points East based on the import export data which we have seen.

The number in red is the percent decline in the fund or ETF total inventory this year.

The more I look into this, the more I see the fingerprints of a few Western bullion banks, with their activities centered in New York and London, with some minor involvement from the Swiss.

Physical supplies are a bit thin. That seems to be clear from various analyses of flows of gold from West to East.   Even with the steep price declines in silver, there is absolutely nothing comparable to this happening with the silver ETFs and Funds.

I read a bank analyst opinion today that the declines in gold bullion inventory show 'investor disenchantment' with gold bullion.   That might be more credible if the supplies of bullion held in these funds were not primarily determined by bullion banks, who are also playing the markets for their own books.

I am fascinated at the apparent repeal of the law of supply and demand.

The lack of reform in the financial system is strangling the real economy, and perverting the minds and hearts of weaker willed men and women who destroy their own selves in the service of 'easy money.'

One wonders where the gold will be obtained when this trend reverses. Venezuela seems to be willing to swap its sovereign wealth into the market. Germany and a few other countries are already there.

Weighed and found wanting.

Stand and deliver.

As always, this data is supplied by master data wrangler Nick Laird at Sharelynx.com.

 This comes from a much larger chart of almost every major gold bullion publicly disclosed vault. I carve out those with major holdings and present them individually on the chart above. The master chart provides the 'big picture' and includes vaults with little activity, such as the Central Fund and the Sprott Fund.

Here is the chart in which Nick shows all 'transparently held' gold and silver in these public funds and ETFs as a single total. Compare gold to silver which is shown just below it.

For those who have expressed an interest here is the latest potential 'Owners Per Ounce' for gold bullion that is deliverable at these prices at the Comex. The figure in the first chart above is for total gold in all Comex warehouses, both deliverable and that which is in customer storage at one of their accredited vaults, but is not for sale.

There has been a sizable drain out of the Comex warehouses in general. I wonder why?

I think the reasons that these things are happening are not all that mysterious, but rather are easily understandable once you can see them for yourselves. The problem is getting some people to see what they in fact are seeing.

Gold Daily and Silver Weekly Charts - Comex Option Expiration Overnight Antics

Gold took a big overnight hit in the futures, which was probably a pre-emptive effort to shake out a few more weak hands ahead of this afternoon's option expiration for gold and silver.

The metals actually finished fairly well, given that this is a very light trading week even by our unusually light trading volumes.

There was a little inflow to the Comex metals warehouses.

As you can see from the metals calendar below, the December contract makes its debut towards the end of this week.  Let's see if December will live up to its title as an active month.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts

Stocks had a bit of a drifting bias for this holiday shortened week.

We can expect most of the adults to hit the roads tomorrow afternoon, trying to run ahead of the storm expected to be sweeping into the northeast.

Have a pleasant evening.

Bill Moyers: Zombie Politics and Casino Capitalism

Henry Giroux speaks with Bill Moyers about the madness of the Anglo-American system.

Gold Daily and Silver Weekly Charts - Comex Option Expiration on Monday

"I have enormous belief in the power of a simple, honorable soul."

James Joyce in a letter to Nora

There was very minor shuffling of bullion around the warehouses yesterday. November is a dull month for deliveries.

As a reminder this coming Monday the 25th will be an option expiration for precious metals on the Comex.

November has been a paper games snoratorium. December could be much more interesting.

Thank you to the many people who responded with good wishes and prayers for Joanie. Some of their own stories were very moving. It was surprising how many were from Europe and Canada. I would estimate I had about 120 very positive responses and only one not so positive. And I am very sure many took action, but did not write about it. That is how most people do their duties and obligations as they see them, quietly and unassumedly.

I enjoyed the notes, every one. Certain ones stick in your mind. There was a fellow who said he had not prayed since he was a young boy, but that he would try to do it for Joanie. What was that song in the video? One way or another, I'm going to find you, I'm going to get you, one way or another, I'm going to win you...

And there was a lovely couple who take care of their autistic granddaughter who had some very insightful comments to make about love and family. And another fellow just today who had a beautiful story to tell about his own special boy, 'Jogi.'

I thank you for all you do for the least of these. These things matter. And they give us hope.

There are so many wonderful stories of the gentle, honorable people of this world.  But they are often overlooked in these times of selfishness and arrogant greed.  Like the seeds of Spring they endure, and will bloom again to bring back life to a world that has been ravaged by the cold winter winds of our hardened hearts.

Have a pleasant weekend.