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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Mike M2 who wrote (42635)4/15/2013 2:01:52 PM
From: carranza24 Recommendations  Read Replies (1) of 48092
 
Maund I think is close to the truth. Comex has had a big drawdown and, according to Maund, so have the JPM depositories - though how Maund would know about JPM is a bit nebulous.

I am excerpting a statement made by Chuck Butler of Ever Bank in one of his Daily Pfennigs of last week:

Message 28830611

Then There Was This. OK. the other day, I said I would look into the report that a record amount of Gold had been removed from the COMEX. Some readers thought that meant I would do it right away. Shoot Rudy, there are only so many hours in a day, minus naps that is! But I did get a chance to look into it yesterday, and while the reports are what they are, fact is that a total drainage of nearly 2 million ounces of Gold ($3Billion worth) has occurred in the past 90 days, the most during a single quarter since records began being kept in 2001. The reason this has occurred is a mystery, except to the companies that withdrew the Gold.

But, the conspiracy juices are flowing for me on this story. And I immediately think that these guys, "know something we don't". And that something could be a major market moving event or even a default of some kind jumps to the front of my mind. And then it could be something as minor as these holders wanting to store their gold elsewhere and not at the COMEX. I guess we'll find out as time goes on. But I find this move of the Gold to be curious at least, given all the stories about Gold losing its luster.
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