NAV Premiums of Certain Precious Metal Trusts and Funds

Having completed the acquisition of the Central Gold Trust, the Sprott Physical Gold Trust now reflects that additional bullion and the cash assets obtained through the transaction through the disposition of bullion.

Obviously the Central Gold Trust is no longer listed and has ceased to exist.

The Sprott Silver Trust has sold some bullion to raise cash and is now well funded.

The Central Fund must address their cash position, either through a bullion sale or a secondary offering.

Administrative Note, Mostly

“It's time for the United States to start thinking of Iraq as a business opportunity," she [Secretary of State Hillary Clinton] said in a 2011 speech.

The quote was included in an email released by the State Department on Wednesday that specifically mentioned JPMorgan and Exxon Mobil. JPMorgan was selected by the U.S. government to run a key import-export bank in Iraq and in 2013 announced plans to expand its operations in the country.

Exxon Mobil signed a deal to redevelop Iraqi oil fields. JPMorgan has collectively paid the Clintons and the Clinton Foundation at least $450,000 for speeches, and Exxon Mobil has donated over $1 million to the family’s foundation.

David Sirota, Hillary Pitched Iraq As a 'Business Opportunity'

I will be out of pocket for the rest of the day, with somewhat constrained access to the internet.

I will be at hospital while my wife undergoes a colonoscopy.

I am sure we will be going out to eat after that since she has been fasting since yesterday morning.

I am posting some links from the waiting room.

So there will be no chart updates tonight.

Postscript:   Great results, and now out to dinner, thanking God for His tender mercies.

Gold Bullion Inventories at Comex Licensed Facilities

Here are some charts showing the status of the gold bullion in licensed Comex private warehouses.

The decline in 'registered' gold, which is gold marked available for delivery process, is striking.

Rather than 'owners per ounce' I prefer to think about that ratio as 'potential claims per ounce.'  That number has declined from the recent spike higher, back to only 386 to 1.

I do not think any rules change is behind this shepherding of gold into the eligible storage, and so much less so as for active delivery.   But if there is such a  legitimate change I would be glad to hear it.

Until I do, it seems the theory that after a three year bear market in prices with accelerating physical offtake in Asia, gold bullion for sale has been left in relatively strong hands that are not inclined to sell at these prices, or risk an unintentional sale in a short squeeze.