Chat with us, powered by LiveChat

JPMorgan Experiences Largest Silver Withdrawal In Two Years

Biden banking system
Print Friendly, PDF & Email

EDITOR'S NOTE:

What’s the breaking news? JPMorgan is currently experiencing the largest silver withdrawal in the last two years. Around 1.8 Million ounces have been moved OUT OF THE VAULT. 

Go on: This amount barely matches the level of demand for silver withdrawals, particularly as fears intensify following inflation’s continuing surge. 

What’s the big deal? Some silver analysts are wondering what kind of shock might happen once people figure out that banks and bullion banks are having to “borrow” their silver to make physical deliveries? 

Our thought bubble: If this is the case, we’re curious as to how this might drive prices once investors figure out that the claims on silver via paper contracts far exceed the amount of physical silver in stock.

I worked three yells of OUT OF THE VAULT into the title!

The JP Morgan move is almost certainly a follow on move from the 3.4 million oz moved out of registered in their vault last week. That is often (but not always) the pattern ... metal moves from registered to eligible and then OUT OF THE VAULT a few days later.

The prior largest move out of the vault at JP Morgan over the last 2 years is 1.37 million oz, so this is definitely uncharacteristic of JP Morgan.

There was some offset with 560,000 oz arriving at CNT Depository resulting in a comex net change of 1.9 million oz OUT OF THE VAULT.

r/Wallstreetsilver - JP Morgan's comex vault posts the largest silver withdrawal in the last 2 years ... by far. That one vault has 1.8 million oz moved OUT OF THE VAULT. Brinks also moves a truckload OUT OF THE VAULT for a comex total of 2.5 million oz OUT OF THE VAULT.
Source: Reddit

No change in registered.

r/Wallstreetsilver - JP Morgan's comex vault posts the largest silver withdrawal in the last 2 years ... by far. That one vault has 1.8 million oz moved OUT OF THE VAULT. Brinks also moves a truckload OUT OF THE VAULT for a comex total of 2.5 million oz OUT OF THE VAULT.
Source: Reddit
Originally published on Reddit.

No Investment Advice

GSI Exchange is a publisher and precious metals retailer. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Content on the Site is provided for information purposes only, and none of the information contained on the Site constitutes an offer, solicitation or recommendation to buy or sell a security. You understand that the GSI Exchange receives neither monetary or securities compensation for our services. GSI stands to benefit from the sell of retail cost precious metals on this site. To avoid hidden costs all prices are listed live 24/7 on this site. Read the full disclaimer

2022 Info Kit

GET YOUR FREE

GOLD SILVER INFO KIT

Precious Metals and Currency Data Powered by nFusion Solutions