JP MORGAN GOLD INVENTORIES: Fall A Stunning 33% In One Day

As the increasingly volatile stock markets bounced back higher today,  JP Morgan experienced one of the largest withdrawals of gold from its inventories this year.  In just one day, a stunning 321,500 oz of gold (10 metric tons) were removed from JP Morgan’s Eligible inventories.


Total gold inventories at JP Morgan fell 33% from 983,693 oz yesterday, to 662,193 today.  Of course, this had to come from JP Morgan’s Eligible inventories, because there are only 176,436 oz of gold in their Registered inventories.

You will notice, that the amount is exactly 321,500 oz (10 metric tons) to the TEE… and as Harvey Organ and Bill Holter have commented, it’s extremely rare for a gold bar or series of gold bars to equal exactly 10 metric tons.  Instead, we should see a fraction of an amount shown as an example in the MANFRA, TORDELLA & BROOKES gold transfer of 29,752.630 oz from the Registered category to Eligible.

Looks like this transfer was LEGIT as we can see the fraction of 0.630 oz shown in the transfer.  I gather JP MORGAN feels that it doesn’t need to be bothered with accounting for these silly fractions, when they have to deal with much larger numbers such as the $70 trillion of Derivatives on their balance sheet.

It will be interesting to see if this 10 metric ton gold withdrawal from JP Morgan becomes an entry in one of the other Bank’s vaults in the next day or so.  Or maybe, it’s on its way to CHINA or INDIA.  Either way… just another interesting data point taking place as the broader stock markets continue to CONVULSE up and down like someone suffering from a HEART-ATTACK.

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10 Comments on "JP MORGAN GOLD INVENTORIES: Fall A Stunning 33% In One Day"

  1. Herman the German | October 23, 2014 at 3:21 pm |

    Great post! Thanks Steve!

  2. SRSRocco, any updates on the SHFE Silver inventory figures? Where to you get your data from? Can you please provide us with a link?


  3. Germany should immediately get the remainder..

    • lastmanstanding | October 24, 2014 at 7:30 am |

      lmfao CS!…no chance.

      I am truly amazed that the peons of society can still purchase pm’s.

      Especially silver at roughly 20 bucks per oz.

  4. Hmmmm…looks like the cost of everything be going up shortly, including the cost of money= interest rates, likely for about 1 year (same time as bonds just spent going up in price from the DEC/2013 low), INTO Armstrong’s 2015.88 date or so?

    and with every co$t going up, this would also mean dollar going down.

    meaning there will be NO inversion like he’s been prattling since he Escaped from New York (prison)!
    The result is a crude but workable overlay which allows us to see that when the subject of “deflation” gets really popular in the press, that tends to mark a top for T-Bond prices. How much of a top may be different from one instance to another, but the principle is relatively consistent.


  5. Outlookingin | October 23, 2014 at 9:14 pm |

    This withdrawn gold could be real physical bullion, in which case the combined total would be reduced by 10 tonnes down to 267 tonnes. Small potatoes really.

    Then again, this perfect 10 tonne (to the ounce) withdrawal is most probably a squaring up of a paper derivative bet by JPM’s traders. Paper shuffling.

    I see where First Majestic Silver’s CEO has proposed a physical silver cartel of silver mining companies to fight the “paper shuffling” derivative speculators and bullion banks. I wish him luck. He will need it!

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