JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever

JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever

http://www.zerohedge.com/sites/defau.../picture-5.jpg Submitted by Tyler Durden on 01/24/2014 17:52 -0500

Curious why over the past few months JPM has quietly been accumulating a substantial amount of eligible physical gold (even as its registered gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn - keep that date in mind for a few minutes)? This may have something to do with it: moments ago the daily Comex gold vault report confirmed what many expected, namely that the JPM accumulation was merely in advance anticipation of major withdrawals. How major? Well, on January 23, JPM saw 321,500 ounces of gold depart in one day. This was tied for the single biggest daily withdrawal in history!The last time JPM had an identically sized withdrawal? December 13.... 2012.

http://www.zerohedge.com/sites/defau...20Change_0.jpg

Something tells us the next few days will see matching withdrwawals from JPM's gold vault, which at last check was officially owned by the Chinese.

And for those wondering how JPM's total gold holdings look over time here it is:

http://www.zerohedge.com/sites/defau...holdings_0.jpg


http://www.zerohedge.com/news/2014-0...ithdrawal-ever

Quote:

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Well, on January 23, JPM saw 321,500 ounces of gold depart in one day.

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321,500 / 16 = 20,094 pounds or just over ten tons of gold withdrawn in one day.

The stock markets in the past two days have taken a tremendous (loss) beating. The news is not reporting it.