from TF Metals Report
Everyone’s favorite faux depository reaches a dubious milestone.
As you know, we’ve been keeping track of the depletion of the GLD. Today, let’s use CNBS’ favorite metric, the 20% decline, to characterize the “inventory”.
On 1/2/13, the GLD showed an alleged “inventory” of 1,349.92 metric tonnes of gold. As of this evening, the GLD “inventory” is listed as 1,078.54 metric tonnes following another drawdown today, this time for 2.10 tonnes.
So, year-to-date, the GLD “inventory” is now down 20.1%…thus the title of this post. What does this mean? How much gold is this? At what rate is gold exiting the GLD? Here are some random bullet points: