Commodity Trade Mantra

Posts Tagged ‘Comex Registered Gold’

GOLD: Something Seems To Have Snapped At The Comex

In the latest update from the Comex vault, we learn that a whopping 201,345 ounces of Registered gold had been de-warranted & shifted into the Eligible category, reducing the total mount of Comex Registered gold by 73%, from 275K to just 74K overnight. Meanwhile, the aggregate gold open interest remained largely unchanged, at about 40 million ounces.

Paper Gold vs Physical Gold: Something Just Snapped At The Comex

If last month was shocking, then what the COMEX revealed yesterday was absolutely jaw-dropping. What was already a record dilution factor, with over 200 ounces of paper gold claims for every ounce of deliverable gold, just soared even more & following today’s 8% drop, there is now a unprecedented 228 ounces of paper claims for every ounce of deliverable registered gold.

Comex On The Edge? Paper Gold Dilution Hits A Record 124 Per Ounce Of Physical

The 43.5 million oz of paper gold open interest represents the total potential claims on gold if exercised, has to be observed in conjunction with the physical gold that backs such potential delivery requests. With record low 351,519 oz of registered gold imply that as of Friday’s close there was a whopping 123.8 ounces in potential paper gold claims to every ounces of physical gold.

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