"In my most recent interviews I have been very vocal about a potential trade opportunity. As you may or may not know, the COMEX is the exchange where the majority of Gold Futures are traded. The COMEX is considered a "fractional reserve exchange" meaning that there is a certain amount of gold available for delivery against the open futures contracts. At the beginning of the year, the leverage ratio of open contracts to available and registered gold for delivery was about 128 to 1 meaning that there were 128 times more contracts written against the gold available for delivery.
Well something just changed and it changed in a big way!
Note the huge flow of Gold OUT of registered inventory on the last report dated 1/26/16. See the number I underlined from the report?
Now look at the large number next to it. The total amount of Registered Gold as we head into the February delivery period is 73,979.682 ounces. "
Trey Knippa
http://www.shortjapandebt.com/update/2016/1/27/gold-news-you-do-not-want-to-ignore
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