You can see the clustering of withdrawals in advance of gold bottoming, a total so far of 24 tonnes. Will be interesting to see if this works as an indicator of a bottom the next time we see a bunch of withdrawals.
22 October 2014
Comex warehouse kilobar movements
As promised in my Monday post, below is an updated chart of kilobar movements out of Comex warehouses.
You can see the clustering of withdrawals in advance of gold bottoming, a total so far of 24 tonnes. Will be interesting to see if this works as an indicator of a bottom the next time we see a bunch of withdrawals.
You can see the clustering of withdrawals in advance of gold bottoming, a total so far of 24 tonnes. Will be interesting to see if this works as an indicator of a bottom the next time we see a bunch of withdrawals.
Sell the green, buy the red, with trailing stop. And, as always, only play with $millions you can afford to lose.
ReplyDeleteGold cap at 1250USD just defended
ReplyDeleteHello;
ReplyDeletewhere do we get kilobar data? Thanks
@teycir,
ReplyDeletethe kilobars are reported in the warehouse using their nominal weight of 32.15oz. Hence, thousand kilobars show in the warehouse accounting as exactly 32150 ounces.
Bigger bars are reported using their actual weight with the accuracy of 1/1000 oz. Hence, unlike with transactions related to kilobars, the decimals of the weight of the moved lot is with great probability something else than .000 .
Thanks Anon. Yes the probability that a lot of odd weight 100oz bars adds up to exactly 32150.000oz (or multiples of that) is highly unlikely.
ReplyDeleteI would also note that there are movements which are very close to 32150oz which could be a tonne of kilobars plus some 100oz, in which case this method understates the actual kilobar movements.
Bron, i had heard some refiners are producing exactly 100.00 oz gold bars. Is this true? Is anyone producing exactly 1000.00 silver bars?
ReplyDeleteIt is possible to produce exact weight bars to any weight but it does cost a bit more to do so.
ReplyDeleteI have not heard of exact weight 100oz bars or 1000oz bars. Given Comex and LBMA standards do not require that accuracy, it would seem that it does not make economic sense to do so.
It is possible there is a market in the US for exact weight 100oz gold bars, just as there is a market in Asia for exact weight kilobars, but I doubt anyone would be demanding exact weight 1000oz silver bars.
thanks!
ReplyDeleteCurrent gold price $1153. This idiotic article is what passes for "analysis". I bet if I ran a scatter correlation chart on the supposed "relationship" between kilobar withdrawal amounts and gold price levels, I'd get maybe a 52% correlation. Who cares?
ReplyDeleteAnd who cares about bankster paper activities anyway? Of course paper pricing goes to zero. So what?
This is the kind of analysis you get when an idiot tries to predict a manipulated market.
Bron---you're worse than the most hyper-active Silverdoctor/Harvey Organ TFMetals/SGT/Jim Willie/KWN/Bix Weir morons blogging about gold.
Give it Up.
That's Out of Order, Jake, and totally unwarranted
ReplyDelete1. Sept 18th--MR "BRON THE GREAT" predicts gold is bottoming at $1180.
ReplyDelete2. Almost two months pass.
3. Gold paper prices go down to $1131 and is now at $1153.
4. Bron keeps posting about his great prediction.
5. No updates?
6. Nothing
7. Not even one post admitting his "analysis" is BS.
8. Time passes and we get more BS posts about Kilobars? Really?
9. So what his brilliant prediction now?
10. Where is gold's paper pricing going into the future?(because, as Criswell predicted, "That is where we are all going to spend the rest of our lives), ---Well?---is it going to $1400?, $1800?, $200?
11. I'm hanging on his every prediction!---what is his great prediction going to be?
12. Please---your public, (such as it is),---maybe 5 people---are waiting!---please tell us so I can wait until that BS prediction proves wrong too.
13. Oh!---and---are the kilobars moving again?---LOL!
What an idiot!