Re: As September Ends, COMEX Registered Gold Inventories Drop To A New Low
(As investors can see in the chart above, we've seen a major drawdown in COMEX inventories over the past few months, which has accelerated in the first few weeks of September. The 161,643 registered ounces of gold is the lowest that we've seen at the COMEX since our records started)
If the rate the drawdown continues to accelerate, we may have an old fashion run on the bank.
A few weeks ago it appeared that was happening, and JPM like magic produced the necessary gold to cover claims. It must be nice for JPM to have such a touch uncle.