Silver as an investment

Pillaging the GLD

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

tfmetalsreport.com / By Turd Ferguson / Friday, October 18, 2013 at 5:31 pm

While cobbling together some data for today’s podcast, I found some interesting information that I thought I’d share with everyone. Some food for thought over the weekend.

Every day the CME publishes delivery notices and warehouse stocks. It is through these updates that I’m able to track the delivery notices for each delivery month and monitor whether or not JPMorgan is issuing or stopping (taking delivery) contracts. The warehouse stocks are usually updated by mid-afternoon each day and the delivery notices get updated by late evening. If you want to follow along yourself, the page can be found here:

http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html

As you know, I’ve been tracking the almost-daily pillaging of the GLD this week, this month and this year and doing so has helped me considerably in projecting price, particularly since I noticed the obvious correlations back in July. This has continued to be helpful this month since, as soon as I noticed JPM being the major issuer of October Comex deliveries, I projected that the GLD would soon be hit for about 20-25 metric tonnes of gold and that price weakness through the first half of the month would be an attendant factor.

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Thanks to BrotherJohnF