As the headline battle between paper sellers and physical buyers of gold escalates, something eerily strange is continuing behind the scenes.
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 (see initial April 9th. piece for comparison):
Individual reporting by the world’s largest funds and depositories show a spreading phenomenon, with Comex and GLD sticking out like sore thumbs…
This brings to mind important questions, such as…
-Why is there such a panic going on to remove physical gold from Comex registered warehouses and other depositories?
-Why did it begin before the collapse, and why does it now appear to be accelerating?
-Why is the multi-trillion dollar fund management industry denouncing gold, while it quickly moves inventory out of registered warehouses?
-Where is the gold moving, and what is it telling us?