MINTS, REFINERIES, BROKERAGES OUT OF STOCK – COMEX GOLD INVENTORIES PLUMMET

gold & silver sold out

The manipulated sell off on the COMEX has led to bargain hunting and a surge in physical coin and bar buying internationallyGold bullion inventories on the COMEX are being depleted rapidly, and certain bullion products are either out of stock or production and distribution has been suspended.  The gold sell off has stoked a frenzy among coin, bar and jewelry buyers from China to India and the U.S. and Europe.

JP Morgan’s eligible gold inventories fell by more than 70% this week which suggests there may be supply issues in the larger London good delivery gold bar market also. This is important to keep an eye on next week.  The death of the gold market is greatly exaggerated and gold’s long term secular bull market is set to continue due to very large and increasing physical demand for bullion internationally.

Today’s AM fix was USD 1,462.25, EUR 1,123.43 and GBP 947.79 per ounce.
Yesterday’s AM fix was USD 1,446.50, EUR 1,107.07 and GBP 937.64 per ounce.


Comex Gold Inventory Plummet

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