Weekly COMEX Gold Update: Despite The Rise In Gold Price Inventories Continue To Decline

NEW YORK (Aug 18)  In the previous week's report we continued to see registered COMEX gold inventories drop, but we did start to see a rise in eligible gold inventories held at the COMEX. This week's COMEX data shows that this turnaround has been reversed as more gold was withdrawn from the COMEX as both registered and eligible inventories decline.

This is something that should be very relevant to investors who own physical gold and the gold ETFs (GLD, PHYS, and CEF) because any abnormal inventory declines may signify extraordinary events behind the scenes that would ultimately affect the gold price.

(Source:  Hebba Investments)