Replies to post #12128 on The New CS Board

[rotor1]

More on the physical/paper ratio

53/1 again:

"We saw more significant action in the Comex warehouse complex yesterday.

A total of almost 4,000 ounces left the greatly diminished deliverable category, bringing it down to 717,666 ounces. The ownership per ounce for each of those deliverable ounces is back up to 53.

Over 50,000 ounces left the Comex complex overall, taking the total amount of gold bullion there to 6,859,476 ounces.

As you know the gold bullion has been coming out of the ETFs in particular, and it is not showing up in the Comex warehouses. There is widespread speculation and anecdotal evidence that this gold is being used to fulfill deliveries in Asia, after being refined into 400 ounce bars. I do not think that it is likely to come back anytime soon."

Some conjecture as no official figures can be trusted where the banking profession is involved. The above from Jesse's, covered more fully on a daily basis by Harvey Orgasm's blog