Massive Gold Withdrawals Rock The COMEX [SPDR Gold Trust (ETF), iShares Silver Trust (ETF)]

record gold holdingsThe Silver Bug: The massive attack on gold and silver has driven it lower.

Much lower, but sophisticated investors can smell the manipulation.

Like a lion stalking its prey, they know that this game cannot go on forever.

Eventually, the manipulators are going to run out of ammunition and then its all over. Prices will explode higher.

One fact, that is going to accelerate this outcome, which ironically was brought on by the manipulators themselves, is the currently depressed prices in precious metals.

Prices have gotten so low, that investors and foreign entities have entered into the market hand over fist.

This has resulted in the recent announcement by the US Mint, in which they stated they have run out of US Silver Eagles and were forced to cease sales.

This news was also confirmed by bullion wholesalers across the United States, but the demand doesn’t stop there.

COMEX inventories have been rocked by this recent price drop. It is being reported that the vaults at HSBC and Scotia Mocatta were the largest hit.

HSBC has seen withdrawals of 196,764 oz of gold and Scotia Mocatta seen 85,584 oz taken from their vaults.

What is most shocking is the fact that these withdrawals happened in just one day!

Comex-gold-inventory-2014

 

(Chart as seen on the SRSRocco Report)

Not escaping the surge in investor demand is JPMorgan, which now only has 577,937 Oz of gold in its vaults.

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