Jim Sinclair - Full-Blown Panic As People Ask "Where Is The Gold?"

Eruaran

Eruaran

Member
"Today legendary trader Jim Sinclair warned King World News about the full-blown panic that has erupted in both the financial world, and the gold market as well, as people ask, "Where is the gold?" Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this remarkable interview."

Link to the full article at King World News:

http://kingworldnews.com/kingworldn...wn_Panic_As_People_Ask_Where_Is_The_Gold.html
 
Jim says Now what has recently happened is that the physical market has taken on a life of its own, and the warehouse supplies at the COMEX on gold have come down substantially. There hasn't been anyone standing for full delivery or any headline-making demands, but if you take a look at the condition of the gold warehouse at the COMEX, you will see that it has declined substantially.

Ok I would like to take a look at the condition of the gold warehouse at the COMEX!

But Jim or anyone how do we do that?

Edit: ok perhaps he means this? http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html
 
pmbug said:
From April 9 (3 days before the Friday smash):

http://bullmarketthinking.com/comex-gold-inventories-collapse-by-largest-amount-on-record/
Click to expand...

So - am I reading this correctly... on April 9, three days before the price drop, the COMEX chart was already showing large decrease in available stock?

Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001 (roughly the beginning of the bull market). Total drainage of physical inventories reached nearly 2 million oz.'s of gold.
Click to expand...

To my mind, this reads that the "run" on physical gold began somewhere in January, and the recent price drop has only exacerbated the situation?

This requires some thought and reflection...
 
Correct, the run on physical inventories started a few months ago, but as you can see from the charts, accelerated steeply. Tekoa Da Silva just posted an update:
...
As first reported here on April 9th, Comex gold inventories have been plummeting, demonstrating the highest levels of physical removal ever during a single quarter in Q1, 2013.

Most shocking however, is that Comex warehouse inventories are accelerating their downward plunge, with dropping inventories now spreading to the world's largest fund depositories.

Over the last four weeks alone, total reported inventories of ETFs, funds, and depositories collapsed by over 5.5 million ounces, or in dollar terms, by over $7,000,000,000 dollars.

The largest physical removals were reported by the Comex at about 1.4 million ounces, or nearly $2 billion dollars, and the GLD, which reported total inventory removal of nearly 4 million ounces, or roughly over $5.6 billion dollars.

Here is a chart illustrating the continued gold inventory plunge at Comex warehouses ...
Click to expand...

More: http://bullmarketthinking.com/comex...over-7-8b-disappearing-from-all-depositories/
 
179_dont_panic.jpg
179_kindle-etch05.jpg
 
ZH takes a look at the story too:
...
What many may not know, is that while registered Comex gold has been flat, the amount of eligible gold in Comex warehouses (the distinction between eligible and registered gold can be found here) in the past several weeks has plunged from nearly 9 million ounces, to just 6.1 million ounces as of today- the lowest since mid-2009.

What nobody knows, is why virtually the entire move in warehoused eligible gold is driven exclusively by one firm: JPMorgan, whose eligible gold has collapse from just under 2 million ounces as of the end of 2012 to a nearly record low 402,374 ounces as of today, a drop of 20% in one day, though slightly higher compared to the recent record low hit on April 5 when JPM warehoused commercial gold touched a post-vault reopening low of just over 4 tons, or 142,700 ounces.

This happened just days ahead of the biggest ever one-day gold slam down in history.
...
Click to expand...

More: http://www.zerohedge.com/news/2013-04-24/just-what-going-gold-jpmorgans-vault
 
There may be paper traders saying this right now.....?


[youtube]http://www.youtube.com/watch?v=v46plhmxXU4[/youtube]
 
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