Gold Daily and Silver Weekly Charts - Kabuki Bonus Time

There were no silver deliveries reported, and JPM took another slug of gold for 'delivery.'

The Bucket Shop is little more than a betting parlor these days.

There were some little movements in the inventories as reported below.

Prices are going to be painted by number into the year end unless there is some exogenous event to shake the markets up.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Pushed Up In Dull Trading

Stocks opened lower, but were slowly pushed up to near unchanged in light holiday trading.

There will not be a lot of economic news this week.

Unless some exogenous event occurs to shake up the markets I suspect we will see the usual tape-painting into the year end.

Have a pleasant evening.

Shanghai Gold Withdrawals Top 2500 Tonnes For This Year

With 57.75 tonnes withdrawn in the latest week, the number of tonnes of gold bullion withdrawn from the Shanghai Gold Exchange stands at 2,503 tonnes for the year to date.

This is the most gold ever withdrawn from this or from any exchange in a single year that I can find in the post-WW II era.

And this record breaking phenomenon is for the most part being ignored.  It seems in retrospect almost unprecedented, and is particularly odd given the relative  'drying up' of deliveries of physical gold in NY and the shrinking of the 'free gold float' inventories in London.  

Gold Daily and Silver Weekly Charts - A Little Higher

Gold and silver drifted a little higher today on very light volumes in New York.

Gold is very quiet in its physical form in The Bucket Shop's licensed facilities.  Most of the action involves house to house deliveries to JPM.

The real action for gold is already in Asia, and not so much even in that long time bullion center of London.

And a very Merry Christmas to all.