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The Comex Gold Vaults Are Almost Completely Empty

Wednesday, September 16, 2015 12:44
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(Before It's News)

gold bullion

In recent years we’ve seen a growing divergence between the demand for gold on the stock market, and the demand for physical gold. It seems like whenever the spot price goes down, more real gold is bought by investors, which seems to fly in the face of basic supply and demand economics. The vast disparity between the number of paper gold futures and the amount of physical gold held by the banks and other Comex vaults, seems to be the driver of this phenomenon.

And that phenomenon may be reaching its limits. According to Zero Hedge, the ratio between those two assets has reached absurd levels for Comex. Last week, they had a whopping 207 paper claims for every ounce of real gold. You would think that this ratio couldn’t get any higher and that they would be able order more gold, but apparently not. Now they have 252 paper claims for every ounce of gold.

Just in the past few days Comex lost 157,000 ounces of gold, leaving only 163,000 ounces of deliverable assets in their vaults, which is the lowest it’s ever been. At this rate, it looks like Comex could run out of physical gold by the end of the month. If their warehouses aren’t restocked in the weeks ahead, the whole phony paper gold market could go belly up.

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Contributed by Joshua Krause of The Daily Sheeple.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .


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