Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day

In just one day, a big chunk of JP Morgan’s gold was withdrawn from the COMEX.  It’s been a while since we have seen such a large single withdrawal.  According to the CME Group’s Friday Warehouse Depository gold stocks, a whopping 200,752 ounces of gold were removed from JP Morgan’s Eligible category.

If we look at the table below, we can see JP Morgan’s total gold inventories fell from 1,398,214 oz on Thursday (7/30/2015) to 1,197,462 oz:

COMEX Gold Inventories 73115

Basically, JP Morgan lost nearly 15% of its total gold inventories in one day.  You will notice that JP Morgan only has 115,754 oz of gold in its Registered category.  This is gold that is ready to be delivered.  This 200,752 oz gold withdrawal would have totally wiped out JP Morgan’s Registered gold inventories.

Furthermore, there was another large 72,022 oz gold withdrawal from HSBC for a total of 272,871 oz from the two banks.  Not only are investors starting to be concerned about the Greek situation in Europe spinning out of control, there is growing fear of a possible meltdown of the broader stock markets this fall. 

This has sparked a huge increase in physical gold and silver buying shown by the record 170,000 oz of Gold Eagles sold in the month of July, including 5.5 million oz of Silver Eagles (even with the U.S. Mint suspending Silver Eagle sales for two weeks).

If you look at the COMEX Gold Inventory table closely, you will notice that the total Registered Gold inventories are a lousy 351,519 oz.  This is less than peanuts.  Two withdrawals like JP Morgan experienced on Thursday, would totally wipe out the Bankers Registered gold inventories.

I believe things will become quite interesting this fall.  Investors need to WAKE UP to the fact that there are very few excellent stores of wealth going forward.  Gold and silver are probably two right at the top of the list. 

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17 Comments on "Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day"

  1. Hello Steve your article suggests the mechanism to suppress Gold and Silver is ending. I’m sure there are several big players on the other side of these trades that would like to see the precious metals suppresion end. In my opinion if Gold and Silver were allowed to reach their natural prices it would go a long way torward balancing the books of several large sovereigns like China and Russia. I’m saddened to see this stage of the suppression ending. I had hoped to amass more before the paradigm shift into whatever comes next. Can’t have enough of a good thing. Thanks for a great article.

  2. ” In my opinion if Gold and Silver were allowed to reach their natural prices it would go a long way torward balancing the books of several large sovereigns like China and Russia. I’m saddened to see this stage of the suppression ending. I had hoped to amass more before the paradigm shift into whatever comes next. ”

    With the many decades long suppression & manipulation of G & S on the COMEX, their free-market price discovery process would be like releasing the energy in a tightly compressed spring. It wouldn’t balance any books, it would destabilize the world’s economies..thoroughly. That will happen anyway in time, but the inability to control G & S prices in fiat currency units may be the catalyst. All governments’ currencies are fiat, and all countries’ economies are inextricably linked. All countries and their central banks want to see PM prices suppressed, so this could go on longer than many think.

    • OutLookingIn | August 3, 2015 at 10:20 am |

      David – very true.
      With “their free-market price discovery” the tide would suddenly turn, revealing those who swim naked! Virtually all global fiat currencies. It would be what Jim Sinclair terms “the Great Reset”.

  3. Commodities are circling down the sewer, oil, copper, lumber, Baltic Dry etc.
    A lot of paper promises are in deep trouble, when gold or silver blows up Comex, it could be a sign for markets to dump more paper, and it could be the start of physical trading, backed by the real stuff due to distrust in paper.

    Paper ‘markets’ are fucked up beyond imagination. JPM/HSBC behind the curtains gold shuffling is ‘big boyz stacking’ imho.

    • “Paper ‘markets’ are fucked up beyond imagination. JPM/HSBC behind the curtains gold shuffling is ‘big boyz stacking’ imho.”

      They are definitely “posturing” for a very different financial world…all the while pushing the current paradigm to squeeze it for all it’s worth. And it isn’t just the bullion banks elite. It is a lot of people with knowledge of the financial system like members of the Federal Reserve. You can bet they are buying PM’s for a better personal future.

      You mention commodities and MSM financial commentators like to demean G & S by referring to them as only commodities. They may not know the difference but the biggest pushers of the current digital & paper assets do know.

      • Very good you mentioned the g&s commodity thingy David. It’s money in the first place. What i meant is this; when paper silver blows up for example, the whole commodity complex will follow. So it’s not only fiat the elites are trying to save (heheh…) but there’s moar at stake.

        Their paper games in pm’s are tied to the complete iou spectrum.

        • So expect some sociopathic fanatic actions. Beyond imagination.

        • Former Federa reserve chairman who is accused of causing the great financial crisis of 2008 wrote a paper several decades earlier in which he favours the gold standard. Recently he returned to his old views.

          • It’s a good thing ‘they’ replaced knowledge for grandpa and grandmom tools at the FED.

            Cozy little motherf*ckers that look like people with best interests for the people.

            When things blow up, it’s not because of those nice grandparents. It must be Assad. Or Putin.

  4. Dearest Steve Saint Silver 🙂

    You said, “I believe things will become quite interesting this fall.”

    I missed it I guess. What do you portend will happen this Fall?

    Great update on evil JPM shenanigans!

    • Hector,

      There appears to be growing evidence of a GLOBAL RUN ON SILVER. Ever since the Greek situation got out of hand in the middle of June, there’s been a huge spike in silver investment demand. If we do see more trouble stemming from the Greek-EU situation and a overdue Market Crash in the Fall, we could see serious shortages in the global wholesale silver market.

      Check out my newest article TUESDAY-TOMORROW.

      steve

  5. With JP Morgan getting low on their physical gold stash it might be time for them to shake the GLD for some more physical gold.

    • OutLookingIn | August 3, 2015 at 9:58 am |

      Kevin – The GLD ‘gold tree’ has been continually shaken, only more vigorously recently. The CME has only 11.7 tonnes of “deliverable” gold left in their vaults! This is why we see gold movements from “house accounts” (JPM) to satisfy eastern demand, while delaying a default and settlement being forced on contract holders to accept “cash” dollars. Lets face it, China does not want any more paper dollars. They want real, shiny, physical gold. As does both India and Russia.

  6. This happened before, and I specifically asked my Chase banker about it. See link: http://www.zerohedge.com/news/2014-01-24/jpmorgans-gold-vault-has-biggest-one-day-withdrawal-ever
    He told me they have a lot of holdings, and they move them around all the time. Not to worry.

    There are also fines which need to be paid.

  7. There are reports that the US and some banks are stashing silver. There are two theories explaining it. The first one holds that they are preparing for a price rise. The second one posits that they want to supress the price in the future. Which one is correct?

    • Both could be correct, and with JPM the case.. Make money playing futures contracts, while holding a net short position to suppress price. Then, knowing the price can’t be suppressed forever, have the physical when the price goes up.

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