Big COMEX Gold Withdrawals & New Record Low Dealer Inventory
Scotia Mocatta had 63,786 oz of gold withdrawn from its Registered category. This is quite significant as Scotia Mocatta’s total Registered gold inventories fell 41% in one day from 152,409 oz to 88,532 oz. Furthermore, you will notice that the total Registered gold inventories are now down to record low 416,563 oz. The gold in the Eligible category is held by Customers at the Comex while the Registered inventories are the Dealer stocks.
A day prior to this update, there was 52,539 oz of gold withdrawn from JP Morgan’s Eligible category. We can see just how much the Registered inventories have fallen since the take-down in the price of gold in April of 2013. The Comex held nearly 3 million oz of gold in its Registered category, but today it has fallen 86% to 416,563 oz.
The figures in this chart from 24hGold.com do not reflect the drop of 63,976 oz from the Comex today. As you can see, the bottom left hand corner of the chart only goes down to 431,530 oz.