Courtesy of Mish.
Nick at Sharelynx Gold, also known as Gold Charts “R” Us emailed an interesting chart last week showing gold drain at the New York Fed.
Earmarked gold dropped 42 tonnes for the month of October as foreign countries repatriate their gold home.
Here’s a link to Earmarked Gold with a second chart that shows all Fed holdings.
Gold Charts “R” Us has 1,000’s of pages and over 10,000 charts on a subscription basis, but you can check out the site for free until December 14. Click on the first link at the top for a look.
Where’s the Gold Going?
This was the largest monthly drawdown in 13 years and the largest series of drawdowns since 2007 (drawdowns in red on above chart).
So, where’s the gold going? Three answers:
Germany
Koos Jansen at BullionStar reports German Gold Repatriation Accelerating.
That article is interesting because it takes to task extremely sloppy Bloomberg reporting regarding German golf repatriation.
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