About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday

Saturday, November 14, 2015
By Paul Martin

Via Jesse’s Cafe Americain,
ZeroHedge.com
11/14/2015

Roughly 21 tonnes, or 685,652 troy ounces of gold in .999 fine kilo bars, was withdrawn, net of a small deposit of 27,328 ounces, from the Brinks warehouse in Hong Kong yesterday. To put that into some perspective, that is the same amount of all gold in the entire JPM warehouse in the US. The point of this is that the price discovery in New York is becoming increasingly distinct from the actual physical supply and demand flows of bullion which are taking place in Asia… And that is a potentially dangerous development, especially with respect to a commodity that is being traded at a leverage in excess of 200:1.

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