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Snurkle - a from the heart - sincere welcome back.

Nothing new but nice to see it confirmed yet again

JPMorgan Nearly Cleaned Out as Gold Travels East!

Gold Inventories at JPMorgan Chase Fall to Extreme Lows

JPM Eligible Gold
Last week, JPMorgan Chase reported inventories of physical gold categorized as "eligible" for delivery on futures contracts at 46,000 ounces. On Friday alone, the bank revealed withdrawals of just over 90,000 ounces. If you add in "registered" gold inventories (metal that can theoretically be re-classed by owners as eligible for delivery), the total inventory on hand in JPMorgan's New York vault is 436,000 ounces.

Does 436,000 ounces sound like a lot? It isn't. In fact, that's an all-time low. For some historical perspective, JPMorgan reported almost 3 million ounces on hand two years ago.

Here's why this is important: Futures traders betting on lower prices must ultimately stand ready to deliver bars to the long investor on the other side of their trade. As demonstrated by the inventory declines mentioned above, a lot more of these longs are requesting delivery. Another big round of withdrawals could leave the shorts scrambling for physical bullion and bidding up prices.
So Where Is the Physical Gold Going?
Seasoned metals investors won't be surprised to find that much of the demand for physical bullion is coming from Asia and India. These markets have historically been the largest for bullion. However, investors may be shocked to learn the degree to which demand in those regions now outstrips the supply produced there. Gold (and silver) are flowing from the West to the East to meet this shortfall.

The Shanghai Gold Exchange reported physical inflows of 1,098 metric tons of gold in the first half of 2013. That represents a whopping 40% of estimated worldwide production! Should deliveries continue at the current pace, nearly all of newly minted gold globally will be required to settle contracts in this single exchange.

This level of demand from the East cannot continue without pushing up gold and silver prices.

Snurkle - as well as the welcome back,
Glad you had a safe trip, and got phase II of the great weather I got in phase I.

Also glad you got to spend some quality time with family and "off planet" away from it all....great for the soul and prioritising perspective on what are...the really important things in life.

Nice to have some company on the input side over here too.
(Thankfully I am assured the loyal band of reader only's still value the information & effort)
- tho' it is really good to hear from them on the input side too once in a while, or even much, much more often.

Hope you get chance to backread some of the stuff since you have been away.
- Massive pointers..... to a "Bix style" inflexion point on the near horizon.

That said - TPTB at such times.... do tend to pull a false flaggy/Black Swanny
(or perhaps just another.... Japanese /Tsunami type jobby :o)

Hope Comet Ison - doesn't make it's presence felt in a physical way as it goes by this autumn into next year ....particularly with autumn fast approaching.
(prospect of it being truly spectacular accross the skies)

Hi Gaz,

Thanks for your post. weather was fabulous. Couldn't have timed it better if I tried and the location, a small island at the top of Holland, was just peachy perfect.
Can't wait for my next stint in Fuerteventura in September for a couple of weeks.... we like to spoil ourselves :-)

I have had chance to read some bits and it seems that things are moving along nicely for us. It might take a bit of time, but no doubt at some stage they'll come unstuck and it looks like the pressure is on.
The GOFO is in my eyes a tell tale sign of becoming 'unstuck' to a point where paper won't really count anymore.

Bill Holter's latest

http://blog.milesfranklin.com/i-really-dont-understand-gold

For those of you who aren't familiar with Bix Weir... and for those of you who are, here is his latest interview. The best part is that it is with Greg Hunter of www.usawatchdog.com which is pretty darn close to MSM.

Interview: Bix Weir on Gold Manipulation and the Coming Crash
Bix Weir

What you are about to hear is REAL and supported by 13 years of research gleaned directly from the Federal Reserve Bank, the US Government and other "accepted" non-conspiratorial sources. Below this interview is a link to some of the articles and research to support the Road to Roota Theory.

http://youtu.be/QDwRJE-dXxs

To understand what is going on behind the scenes you need to spend some time understanding the Road to Roota Theory and what the Fed Bank of Boston is trying to tell us. Sign up for FREE emails that will update you on the happenings behind the scenes. You can start your research here:

http://www.roadtoroota.com/public/department36.cfm

Don't take any of this information as blind fact. Do your own research on the matter and you will discover the secrets on your own.

Welcome down the Road to Roota!

Bix Weir
www.RoadtoRoota.com

GazKaz,

I have read the posts you and the others have posted and am most grateful for your/others efforts.
I am mostly interested in the timing for the jump in AU/AG prices and your thoughts on how best to maximise this. i think rather than buying more POLY and averaging down[bit late for that as up from its lows] i will chance my hand with ETF leveraged silver [LSIL].

Alex

GazKaz,

I have read the posts you and the others have posted and am most grateful for your/others efforts.
I am mostly interested in the timing for the jump in AU/AG prices and your thoughts on how best to maximise this. i think rather than buying more POLY and averaging down[bit late for that as up from its lows] i will chance my hand with ETF leveraged silver [LSIL].

Alex

Worth watching even tho most here know the score...

http://www.silverbearcafe.com/private/07.13/stateofmind.html

S.

Gaz - How did you post that Stockcharts chart?

S.

Sahara
- re stockchart - never succeeded in a "direct post" from stockcharts (tried everything)

The above chart is just a above button link .... to a 3rd party site...carrying the chart in question.

Thanks for the "state of mind" link.....just watching/listening to it now
(good combo of a lot of diverse info I have seen/read - condensed into a nice compact package)

Hope any readers watch & pass on too :o)

Snurkle
- good comment in Holters link - re upcoming expected crimex contracts standing for delivery

"we are now staring August directly in the face
- with potential settlements
- greater than the inventories of...... JP Morgan, Scotia, HSBC and Brinks.... combined".

Alex - I hope....
gazkaz - 22 Jul 2013 16:45 - 401 of 413....answers the timing part of your question
re ...."timing for the jump in AU/AG prices and your thoughts on how best to maximise this"

As to a ETF/Levered silver play.....if you can call the timing part in the ....."timing for the jump in AU/AG prices"
- then you will be well on your way.

That said - you will then be taking the chance of playing their fiat paper game, in their casino, playing under their rules, which they can change at will, on their rigged tables......and on a levered LOSS (as well as win) basis.

But ....On those odds - I don't play.

In the present climate I value "return OF my captial" & ignore gambling trying to achieve .....a "return ON capital"

If you watch Saharas (Saturn6) "state of mind" link
- it gives a fair insight..........
- into the opposition you are up against

In addition Sahara/Saturn
- gives what I would call "unprecedented quality" chart analysis accross on ADVFN Really useful silver thread.
(Unable to get the charts to work over here).
- and I would defer to his opinion every time, as to
- whether the current market is conducive to...trading etc.

If you ask him, I feel sure he would give you a well balanced opinion.

How's this Gaz?....



S.

Sahara - impressive
- I take back my words to Alex at the end of the immediately previous post to Alex too :o)

I assume it is a ...not a "direct" from stockcharts and you have discovered a workaround.

Well done too,
(these Bulletin Boards do like to challenge us, in our efforts to get the information out to a wider audience)

Gaz - Sometimes looking too deep you 'miss the wood for the trees' a simple secondary layer between links and a deletion of the ing part of the image upload did it.

I realised it after thinking about your chart that you posted, and after various tweaks. Stockcharts, understandably don't like to allow non-members view live charts (As direct links update in real-time ) but do allow sharing of the static charts. ;))

Keep up the stream of pertinent links Gaz. 'THEY' have become a valuable part of my daily market consumption.

S.

I did post a while back on the other side to watch for a synchronised breakout of the resistance lines on the ratio to Gold the GDX 'Wedge' and the $BPGDM lateral line after the 'Triple Bottom'...



Notice the tag of the 63/EMA/ The first time since December.

S.

$Gold...



Look for a potential pullback from the 50/DMA to the breakout line for a re-test. Look for the Daily 10/MA or 9/EMA and 16/EMA for support too.

S.

Alex - there's a small example some top notch, excellent analysis
- although I feel sure Sahara would agree,

- that if the cartel chooses to come in with their... very, very large paper metal..hammer,
- it does tend to bugger up...the likely free market anticipated movements.
(as we saw with silver approaching $50 and more recently, the paper hit of several hundred TONNES of paper gold leading to the recent take down of gold)

Although in the past...Sahara has even indicated those type of upcoming likelihoods too.

Not a big fan of listening to many KWN full interviews
- but this one from Andrew Maguire...is a definite exception :o)

http://www.kingworldnews.com/kingworldnews/Andrew Maguire/Broadcast.html