Two years ago, Texas University shocked the gold community by taking delivery of $1 billion in physical gold from the COMEX, under the guidance of Texan hedge fund titan Kyle Bass.
Bloomberg reports this morning that the University’s Endowment fund has just liquidated $375 million of its physical gold position over the past 3 months, and will plow the proceeds…back into the PAPER GOLD FUTURES MARKET (along with general equities).
Nothing like identifying a coming trend and getting out of Dodge in time…just to come running back and jump into the fire when the game actually starts heating up!
Somehow we suspect that Mr. Bass was not consulted on the University’s latest financial decision… [Read more...]
Texas University Sells $375 Million in Gold Bars…to Re-Invest in Gold Futures!
Silver Shortage Intensifying, Will Result in a Buying Panic
When it comes to real physical “hold in your hand” metal, there is NO ONE selling. If no one is selling then how is it that the price could go down? …COMEX and LBMA! The paper markets, that’s how. Paper contracts that are “sold” with no Silver, no Gold backing them AND no intention of ever delivering have hit the markets to knock prices down.
This “strategy” however, has spawned the unintended consequences of increasing demand for the real thing.
The recent US Mint shutdowns and premium spike in 90% silver is the looming “shadow” of shortage and as long as the “price” in the paper markets have JP Morgan’s boot on its throat, the shortage situation will continue, get more acute and ultimately blow up in a buying panic…exactly what JPM has been trying to avoid at all costs!
[Read more...]
Gold Run? 43 Tonnes of Gold Stand for February Delivery on 1st Notice Day
Today was first notice day for February delivery in gold, and as usual, we had a waterfall raid in gold to $1655. The cartel MO has long been to raid gold and silver on options expiration as well as first notice day, to help prevent longs from standing for delivery.
While the the cartel raid was successful based on the paper futures price, it was an epic fail based on physical gold delivery requests, as a monumental 1.391 million ounces, or 43.26 tonnes of gold stood for delivery today on first notice day.
To put this number in perspective, December delivery in gold, which is traditionally the largest delivery month of the year, saw less than 10 tonnes stand for delivery.
Has the Buba’s gold repatriation request ignited a full-fledged run on the cartel gold bank? [Read more...]
18.3 M oz SLV Deposit & JPM’s New Silver Vault: JPM Discovers Way to Bypass COMEX Re-entry Process
Submitted by AboutAG:
Why Was 18.3Moz of Silver Deposited into the SLV Jan 16th?
The obvious answer is “JPM opened a new warehouse!”.
However, that does not answer the question, as only 10 Moz went into their new warehouse.
The experts seem to agree that one of the most plausible explanations is that JPM closed out their short position in SLV.
One or more people have 17,016,600 shares of SLV short (about 16,458,115oz) at last count (which could be a couple weeks old). It is believed that JPM is likely responsible for much or all of that short position. The unexplained addition of 17,410,210.4oz to SLV (remember, 967,881.6oz are considered a ‘normal deposit’) would cover the entire short position and then some. Or if another 967,881.6oz (1M shares) were a normal deposit, that would leave 16,442,329.4oz unaccounted for, almost exactly matching the short position.
It appears that JPM has found a way to bypass the COMEX re-entry process, making the transfer of bars from SLV to COMEX and vice-versa extremely simple.
[Read more...]
Year in Review: The Top SD Stories of 2012
2012 is almost in the books. That means its time for another review of the year’s top stories on SilverDoctors.
The most important and most popular SD Stories of 2012: [Read more...]
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