GLD gold holdings hit new Yearly Low
A quick look into the gold holdings in GLD shows that gold continues to leave the ETF. Trader Dan states “Holdings are now at 773.45 tons, the lowest reading of the year thus far and down some 24.77 tons from the starting point at the beginning of this year. One must go all the way back to December 2008 to find that amount of gold in the ETF! That is nearly six years ago.”
These ETFs are a good barometer for western gold demand and after a brief little pop to start off this year the metal is back to its un-loved status.
And the USA SEND BILLIONS BILLIONS TO ISRALE WAY WAY IDIOTS ????????????????
BOYS ALLLLL DISS DEB AND DEB IS EVIL BUY SMALE GOLD COINS AND SEE WAHTS COMING NO NICE NO NICE TACKE YOUR THIME CRAZY !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Franky are you a retard?
Way to to go Adolf “Franky” Hitler.
YOU….Keylime….The sawed off blogger you are
Nothing but sarcastic insults coming from a useless blogger
who finds joy in degrading others.
Where were you raised boy.
In a pig house…
Yes, including the over $10 billion withdrawn form PIMCO funds.
The” BOND KING”…..is no more…………………..
That extra $10 Billion is going to be looking for a new home………….wonder where it will end up…………………………………
I also heard Janus Capital had a billion $ inflow, so people like Mr. Gross.
While the open interest on gold is in the fairly normal range and inventory in GLD has declined to 780 tonnes (And possibly much of what is left is paper) open interest in silver is rising.
The December contract in Silver is most interesting and could potentially provide us with a timeline for a COMEX default possibility.
The December silver contract is often a significant contract month and right now it breaks all records to stand at 120,789 contracts. The December contract month may well develop into crisis time if sufficient parties try to take delivery of much of the comex silver.
Quite often contracts are closed out and delivery is not taken. Indeed parties that try to take delivery will receive strong phone calls to try to persuade otherwise.
In ounces, the December contract equates to 603 million oz or 86.1% of annual global production. This is absolutely unprecedented.
The party or parties behind the majority of these longs is unknown, but it is highly probable that it is the sovereign Chinese government, with possibly some Russian help.
Currently with this level of contracts there is not nearly enough silver in the Comex warehouse and no known physical stockpile available to easily raid to cover this quantity.
thanks for the info……………….appreciate………………….j
This is the scenario Harvey Organ is touting……..he thinks the default will be the start of the metals upward shot…..time will tell…..
There will not be any storage default that affects the price of silver. What you are saying is just speculation and in the same vein as others who have already been totally discredited.
This same kind of bizarre reasoning has been going on for more than five years already. Maybe you already forgot about the “Crash JP Morgan” campaign that was supposed to destroy them because of their massive silver paper short positions?
Total crock of BS. What came of that? This Comex default idea is in exactly the same theme of things and it is utter nonsense. Silver will NOT benefit as so many of you assert. Just barking up empty trees.
Can this idea finally die the death it deserves? Why keep blathering on about nothing?
PS: Silver was off a critical marker of 17.00 dollars this morning. It is crashing.
Gold has come within just four dollars of the key 1200 level. it will retest and
fall below major support soon.
So much for HH’s “gold to the Moon” theory or Matthews 1550 gold by September! Both those guys have NO IDEA WHAT THEY ARE TALKING ABOUT.
The premium over US spot price for silver in Shanghai currently stands at about 13% and stocks of silver are diminishing.
again, thanks for the info. …………………j
I was told that the premium include a value added tax of 17%, which is rebated by Chinese government if the silver stays in China. The high price only apply if you want to re-export the silver. I am not sure whether it is really reliable.
https://www.bullionstar.com/article/chinese%20gold%20demand%20silver%20surprise
Looks to me , either way………with 13% and or 17% VAT,,,,the Chinese want the rEAL STUFF…
Absolutely. If we face a shortage, China is most impacted.
You’re correct. If you subtract out VAT it is -4%,
but in terms of what people actually pay it is 13%.
Premiums rise as prices fall. Don’t you know that yet? You think high premiums mean high demand but that is not necessarily always the case. Do not forget that dealers are holding higher priced metals that now face a lower spot. That is why premiums climb or they would go broke. It has almost nothing to do with supply/demand fundamentals.
Nonsense. Only in a manipulated market do premiums rise as price falls. If a market is falling because more people would rather sell than buy, how can premiums go up? Premiums are the result of demand exceeding supply!
Always the manipulation theme. So pathetic. What about corn and wheat Matthew? Are those manipulated too because they sure have fallen hard. How about sugar and cotton? How about virtually all the major commodities including crude these past weeks. You are so very sad. No wonder your wife dumped you.
YUAN AND EURO………….start trading tomarrow…………..Sinclair site today..
one giant step backwards for the DOLLAR…………………
Shanghai silver is also in backwardation. This is usually taken to imply a shortage of supply.
That has not been a reliable method to gauge the price of precious metals in many years. Do you not get bored repeating the same things over and over again? Let me ask you this…….how many times have we all been regaled with stories of backwardation in the past year and every single time gold and silver both kept falling in price. Does that tell you nothing?
Stop wasting your energy on broken narratives.
Better yet…show me ONE time where that idea has been valid in the last 48 months!
An example of excess government regulation:
An example of excessive burden on citizens due to government incompetence/corruption:
Examples of excessive government restrictions:
Protests in Hog Kong for more democracy causes China to shut down Facebook in Hong Kong and censor other media.
Catalonians forbidden independence vote……expect tax revolt.
Only cocoa futures are attracting bullish bets of any significance and that’s due to the ebola epidemic sweeping the main producing region of west Africa
Priced in gold, GDX has been below the crash lows of 2008 for 17 months.
http://stockcharts.com/h-sc/ui?s=GDX:GLD&p=M&yr=7&mn=11&dy=0&id=p52523497025
Btw, notice the very bullish volume.
Matthew…..do you know what I notice? I notice that you are the WORST gold analyst on this site and that almost EVERY time you come up with a bull-tard / gold-tard chart of bullishness of metals you are virtually always wrong, wrong and wrong again.
————————
Note to all who follow this guys charts and anlaysis…..start paying very close attention to what he says. Also do not forget that he admits he is NOT even a gold buyer. He has made so many mistakes in estimating gold and silver trends in the past three years that it is not even a joke anymore. Anyone following Matthews advice to “buy now” as he so recently and boldly stated is already underwater on those investments. He has expressed similar bullish sentiments since the peak in metals prices and has not ever relented in his “buy gold now” thesis. He NEVER says to sell. I again strongly urge all readers to do their own due diligence and to take this guys promotions with a large grain of salt as his advice will surely cost you money. If you have lost money listening to him or have been influenced by his daily relentless bull charts then please speak up now and make yourself heard.
EVERYBODY needs to hear about it now. I am sick of fighting this gold pumping troll all alone.
I am making observations, Mr. “Bird” Fudd. Did I say “buy” in the posts above and below? No. I’ve made it very clear that I like silver and the miners right now more than gold.
You are a criminally stupid miscreant. Absolute scum of the earth.
For new readers, here’s just a tiny bit of evidence:
On September 22, 2013 at 12:44 pm,
Andrew de Berry (Rev) says:
Something simply tells me you can’t laugh at yourself BM, and that you’ll try beating down an opponent with any stick that comes to hand.
Wanted to take you seriously but you’re just so right over everything you discredit yourself.

On September 22, 2013 at 1:44 pm,
Bird Man says:
If I put a very fine point on that sharp stick I would say you are one very biggoted, extreme right wing, racist, anti-government, Fed bashing, Obama-hating, gold loving, money lusting loser. But I won’t say that today. You are a Reverend (of course). The worst and most despicable intolerant Christian I have ever had the honour to know. God loves you though.
But I don’t……code of Hamurabbi. Now piss off.

On September 23, 2013 at 3:30 am,
Andrew de Berry (Rev) says:
And you make out you’re not rude BM JOKE!!! –
Have blown your cover once and for all, so I can rest my case.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=6&dy=0&id=p03087551085&a=362646998&listNum=1
Endorse all of the above Matthew. The BM is a cat’s cradle of contradictions, disguised to make him sound like the greatest expert on God’s earth. Of his many thousands of posts one of his most laughable recently is to start spouting scriptural texts at Heavy Hitter. Treat the guy as one monumental shit stirrer and you won’t go far wrong!! lol., A
Absolutely Andrew; the guy truly needs medication.
Psalm 101:7
No one who practices deceit
shall dwell in my house;
No one who utters lies
shall continue before my eyes.
What better way to show deceit , ,,,Than false scales,,,fiat that is unbacked, with no labor attached….is deceit to those who work with their hands for a honorable wage.
God hate,,,,false weights and measures………….
I am making observations, Mr. “Bird” Fudd. Did I say “buy” in the posts above.
———–
Yes indeed you did say “buy” no less than three times in the past few weeks. You are a liar and a manipulator. Your observations go far beyond idle commentary as you encourage and push others on the site. You always revert to abuse, insults and name calling when you are criticized but you shall be criticized without relent after today. Every one of your remarks will be scrutinized.
When the Bird gets religion we can be quite certain he’s unravelling!!
The “last few weeks” is not “the posts above and below” idiot. I stand by MY decision to buy when and what I did.
OK Guys….fess up…Who in the hell tinkled on Bird’s corn flakes this morning?
UUP about to head DDOWN?
http://stockcharts.com/h-sc/ui?s=UUP&p=W&yr=8&mn=3&dy=0&id=p21351018608&a=369605702
Sprott’s PSLV is now trading at a 3.83% premium to NAV (compared to 3.35% on Friday).
SLV:
http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=1&dy=0&id=p32759846485&a=367345558
Silver hasn’t been this oversold in many years, if ever.
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=5&dy=0&id=p03659015825&a=369611738
See what I mean? Just look at all the bull posts! It never ends with this guy. A stopped clock.
Don’t waste your time Birdman, everyone here are gold bugs…I’ve been short Gold since $1307 which I posted at Gary’s blog, shorted silver and the miners at the same time…its ALL about making money NOT reading useless opinions!
And I was the bad guy, lol……………….
Lol, you also missed the June rally. You’re not “the bad guy” because of your views.
JJ! Come back man I miss you! There is almost no damned common sense on this forum. They just do not quit. It is beyond drinking Kool-Aid. I actually feel certain some of them are possibly insane, others paid insiders, brokers, dealers or Troll promoters and maybe there is even a GATA insider here. It is IMPOSSIBLE anyone normal could still be bullish and claiming to have profited by being long after these kinds of declines. And yet Matthew is that guy, He is blowing more sunshine up the arses of readers than is even possible for one person to do alone.
Sorry Bird I won’t waste my time here, same old same old since $1525 broke every pop is to da moon, and yes they create nice % gains which I’ve traded as well but the real money has been made on the short side….from 2000-2011 Sprott and others were the go to guys as even an idiot can make money in a Bull market, since then everyone who has any common sense realizes these guys are all Buy side analysts….very dangerous to ones financial well being….Armstrong has been the guy to follow golds trend these past few years…but everyone here is far smarter than Marty, ego is another dangerous portfolio killer.
2015 will produce golds low either side of $900 or perhaps $700 …..how many here bought Armstrongs pm’s report?…..sell some of your worthless gold stocks and buy it!…nobody will listen regardless of following the same incorrect reasons to be long for years now….the overall trend is cleary down….with nice pops along the way.
Good luck Birdman………..jj
“even an idiot can make money in a bull” lol, that’s what I need jj, Im a terrible trader.
It would be nice to read your posts again. But I do understand.
Bird, I wouldn’t worry too much about anyone losing money listening to Mathew or anyone else here. Anyone not viewing this as pretty much entertainment is gonna lose anyway I would think.
There is the occasional tid bit of worthy info tho.
The guests calls can be interesting to follow, the debates in posting can get good but when they are all “to the moons” its boring.
might as well read kwn when that happens.
I do wish this was a more balanced site, but heck its a pretty good one in any case.
I hope you continue to post your opinions. jj could be right, no point in argueing anything, doesn’t mean you cant post tho.
You are so right JJ. So right it is painful to read. I used to think gold was a religion. Now I am certain it is a mental illness for some people. Just look at all the garbage Matthew spews each day with pithy quotes to back up his position. It is pathetic anyone here believes it and yet the rah rah crowd is always close on his heels. Such a pack of morons there are not words to define them.
There is no balance here anymore bb. You are so correct. The few who offered any sense have long since given up in disgust and moved on.
I dont think it was disgust Bird, they were just outnumbered and the argueing was pointless. When the personal attacks happened is when I saw people leave.
But overall, those that chased them away lost “big time”, financialy and personaly.
But, we are a generation of hypocrits, Do unto others, that sort of thing.
I figure you should keep up the good fight, just take it for what it is and not personal.
“Hypocrits” lol. Said the guy who wants an “honust” monetary system AND government controlled paper money! Lol……………………..
Don’t listen to anything he says, BB. The guy is very manipulative, insulting and miserable. Best we pay him no heed. You are correct that a lot of people left. It was not the arguing though. It was because they were sick and tired or being lied too and tricked. Some of them had suffered massive losses already. They just could not take another day of the gold promoting garbage from guys like Matty.
Says the piece of garbage who started all this shit this morning.
Mathew, Im not Christian in any way but I do believe Jesus spoke the truth, we are a generation of hypocrits. I wouldn’t advise looking for it, once you see it that’s all you see and its actually pretty difficult to stop seeing it.
I mention that because those that chased people away called themselves Christian.
But really I shouldn’t I guess.
And yes, I think our currency should be fiat, and the issue with using it is an honust government is required to use it, so I understand its pointless. But I still think a currency should be fiat.
Interesting action in gold 9/30/14.
Price held steady by demand in Hong Kong, but as soon as Hong Kong closed, it’s taken down by London. Now with US open it is being taken back up.
It is the first time in a while we have a quick reversal which takes the price above the price before gold drops. It is interesting to see whether this will result in a V shaped recovery. As I remember bottoms always have a V. Unfortunately my order for sbt.un in tsx is not filled even I was the highest bidder for a few minutes since there is no transaction. Very rarely for this to occur, there should always be some panic sale.
Bottoms do not always have a V shape. Go back to school.
Your right Bird, sometimes they are “y” shaped, as in “why do I keep looking for one”.
Ha!….so true bb. Why indeed. We will know the real bottom when it comes because most of the pumpers and charlatans will all wither up and blow away with their losses and the last of their sorry pride.
BB, what I mean is major bottoms like 2006, 2008, 2011, … They usually result in panic selling and sale exhaustion so they are mostly V shaped. I have been looking for this shape but we haven’t got it so far.
I understand the v your looking for Lawerence.
It will happen eventually, just a matter of how far down we gotta go.
Unless all business stops I guess, I just don’t see that happening.
I could be wrong of course.
bb,
Since base metals and precious metals are all suffering, the silver production started to fall last year, I remember I saw a graph a few month ago (I should have kept it, try to do it next time). Lack of gold does not matter but lack of silver will impact industry. US should not get get a bad deal since its manufactures are mostly exported. China will be the biggest loser on this.
I have said for years, and laughed at and ridiculed as well, that I don’t see gold going much blow $1000, I gave my thinking. I intend to buy all the way down to it, but I buy monthly and any loss is no big deal to me, if we go much below $1000, I may have to readjust my thinking, but until I am proven wrong I stick to the way I see things.
One thing about this site, most that post, think, the people are intelligent enough to inform themselves, even if they are not agreed with. And there is nothing wrong with keeping the company of intelligent people.
Even when we think they are “ding bats”, those that have been calling for lower prices in gold have been proven to be correct for years now, but a “nimble” trader can make money on the way down too.
I personally need a big ol vicious bull.
Correct bb. People can have differences since our propectives are different and entry points are also different. Whatever we say, I hope we are all polite and avoid personal attacks since people don’t learn while they are screaming.
I am currently buying every time the price goes lower by 4%. Since I have a lot of evidence that this downturn is manufactured, so how low it goes is hard to say. I agree with Gary on this but I am not sure why he still stick to his TA knowing the price has been manipulated. It is much closer to the low than to the high now so selling at this point is the same mistake as buying at the high. I think most people sell when the price is against them. So far, I have done the right thing of buying at major lows and sell at major highs and I want to continue doing it.
This time, it does look like an end game scenario like John Embry has mentioned.
I don’t understand TA in a manipulated market either, but there are people that swear by it and make money with it.
Thing is, the markets have been manipulated as far as I can tell for as long as Ive been involved, from the 80s.
Edmond de Rothschild Group is buying gold stocks.
http://www.bloomberg.com/news/2014-09-29/gold-stocks-rally-seen-on-gap-to-global-shares-chart-of-the-day.html
Adults and billionaires understand that you have to buy low before you can sell high.
Frank Giustra commented:
“You can never pick absolute tops or absolute bottoms. Nobody can do that. I called the bottom a couple of years too early. What have I done about it? If you pick the bottom at the wrong time, and the market keeps getting cheaper, you can keep buying if you have the cash – but don’t ‘average down’ into bankruptcy. Your approach will depend on your financial situation. In 2013, I had the cash, so I averaged down.”
Adults and billionaires also know that you should not buy an asset until it it is trending in your favour. Only fools buy that which is still fully in flight and declining. Stop feeding us bull-crap garbage every meal.
I have always said that trend following is a fine approach for some, but not me. Buying weakness works best for the guy who knows what he’s buying and why. For people with your disorders, strategies that require patience, conviction, and courage make no sense. Traders like jj will never understand the speculator/investor.
Billionaires do NOT buy uptrends, they cause them by cementing the lows. They are the ultimate contrarians out of necessity. Size comes with its challenges.
Btw, GDXJ is STILL above my last few purchases of days ago.
Thanks Matthew for the info. I will make my own decisions on all info I get. I can play a bounce without being a bull.
Birdman, you have insulted a lot of people by your personal victim mentality and general insults as all being morons etc. I make my own decisions and accept that I may use the wrong info from time to time. I am master of my own domain and don’t need to be warned of snake oil salesmen. This is a forum not a pedestal.
Dan, the sword cuts both ways around here. Those who dish it out get their fair share back in return. I am an eye for an eye type. I was not talking to you in any case so save your criticism unless you want to get involved.
Thank you Dan! I just post my opinions like anyone else, for crying out loud. Everyone can obviously decide for themselves if my comments or charts have any value to them.
My personal guidelines of the moment; the commodity bull is over but the PMs should have broken out on geopolitical concerns but have been manipulated down through the CRIMEX and other government entities. Very tough to sort out what a fair price is but I would say something close to where it is now due to mining costs of the best mining companies. I am very interested in uranium stocks at the moment. I also wonder what is going on with rare elements and RES. I don’t own any.
Dan,
I think commodity bull is over for a few more years at least. The bull in commodity was so huge that the base metal companies have expanded their production beyond reasonable. Now they have to suffer. However, oil will be needed. Asia has very high oil/gas price and a lot of demand. They buy whatever we can ship to them. I know it based on our sale information there. The stupid thing our government has done is not doing anything to open an Asia pipeline so we stuck with $50-60 oil. This makes me mad.
PMis more related to inflation and opening of asia wealth. It will turn around.
B.S.
I can’t believe that so many Armstrong sheep, like jj, couldn’t spot cluelessness in their leader when he used gold’s 1980 bubble top and the Dow’s ensuing rise to “prove” that gold is not an inflation hedge. That was SO incredibly dumb, I don’t think he’s a shill who really knows better. (Unless his intention was/is only to throw off fools.)
Here’s what Bird Fudd, jj, bb, and even Martin Armstrong do not understand:
“Nations are not ruined by one act of violence, but gradually and in an almost imperceptible manner by the depreciation of their circulating currency, through excessive quantity.” -Nicholas Copernicus, 1525
You are assuming Mathew.
I do think it funny you accuse bird of insults and veil your own.
Its ok tho, if cleaning vomit or being insulted is the worst thing to happen to a person in life, they are a lucky person.
A lot of thin skins around here.
Do you expect me not to insult someone who insults me first? You’ve got as much class as Bird Fudd if you think his antics are no big deal. You’ve defended him for months, so… there ya go.
Well, Mathew, you scream how you get insulted then call a guy garbage.
Its all bs to me, but what is not bs is how accurate bird has been for years.
No offence intended to anyone, just stuff I notice,
We all notice it, bb. He dishes out crude remarks against me and a few others in almost every single post he writes. The guy has no credibility whatsoever with anyone on the site except maybe the Reverend. But Andrew lost a fortune on gold and miners so he is obviously desperate.
Anyway, Matthew admits he does not even buy gold!!!!!
So why is he telling others that “Now is the time to buy”! What a loser.
Bb, there is nothing inconsistent or hypocritical about me insulting someone after they have attacked and insulted me first. Something is wrong with you if you don’t understand that.
B. Fudd, I own gold and am buying miners. Everyone but you knows that gold itself must also be analyzed when looking at buying the miners.
Doc and Chris think now is a good time to buy, are you going to attack them too?
Your funny Mathew, I have said multiple times I buy regularly, couldn’t care less what price it is.
Trading is another story of course, but gold is not my only investment, 5-10%, that’s it and its that esay, no real need to even think about it.
This site being dominated by Christians is why I mention you insulting, which I have seen many times, turn the other cheek etc.
I have no idea why a person says now is a good time to buy, some people do nothing but scream, buy buy buy.
I actually agree, I think anytime is a good time to aquire gold, but if a peson was to “plop” his entire investment stash, that would be another thing, then timing would be paramount I guess. Some would call that stupid I think tho.
As most here understand, a person has to know the reason they own gold or any investment of course, that kinda determines how we invest I think. Different for everyone maybe.
I know about your buying, bb, B. Fudd is Bird. If someone is insulting to me, I just might insult them back. As the constant attacker, Bird deserves far worse than I have dished out.
People can call me whatever they want, just not late for dinner please.
I never cease to be amazed at the intelligence of miners. Prices are down, profits are almost non existent, so they increase production to try and increase profits, supposedly because variable production costs relative to fixed costs will become smaller.
The problem is that they continue to do so while prices are dropping, even passed the point at which they are selling production at a loss.
Let me express this another way.
Selling something at $A and making it for $B, when B > A, you are guaranteed to go into bankruptcy if you keep increasing production over an extended period of time.
Stop selling and stockpile production until prices go up. And if you don’t have enough cash back up to do that, you are a rotten financial planner, because the mining business is cyclical, has been cyclical, and always will be cyclical, you morons.
cfs, I used to think the miners were nuts not o expose manipulation etc.
Then I read how the miners are completely dependent on governments.
They cant expose them, they wouldn’t get permitting etc.
They should have hedged a long time back already. But the exec’s were eating out of the palm of the gold promoters and now many of them are royally screwed at lower prices. Why could they not see the dollar was going to soar. It was the most obvious trade in the past half decade.
It will not help CFS. It never makes any difference. Backwardation is not important to silver.
ANYBODY READ…………..BILL GROSS LEAVING PIMCO…………