REPATRIATION AVALANCHE GAINING MOMENTUM: AZERBAIJAN TO WITHDRAW ALL GOLD FROM JP MORGAN VAULTS
JANUARY 21, 2013
The State Oil Fund of Azerbaijan has withdrawn the first ton of its physical gold from JP Morgan vaults, and placed it in their own Central Bank vaults in Baku.
The Fund has announced it will withdraw all of its physical gold assets from JP Morgan warehouses in London.
The game of musical chairs known as bullion banking allocated (rehypothecated) gold storage appears to be rapidly coming to an end.