http://jessescrossroadscafe.blogspot.com/2015/08/jpm-customers-issue-and-goldman-takes.html
The receipts for another large chunk of bullion changed ownership
from a JPM Customer to the Goldman ‘house account’ at $1,122 per ounce.
With all the usual caveats, and just taking note.
This is especially intriguing since Goldman has been publicly beating
the drums for gold to drop well below $1000. Perhaps, like Rick who
moved to Casablanca ‘for the waters,’ they are merely misinformed.
We ought not to presume anything about how naive the customer might
be, or the sly cunning of any particular buyer. For all we know the
‘customer’ could be a large and highly competent ETF or fund, and not
some naive or desperate or perhaps whimsical individual.
And as for the buyer and its motives, my friend Dave offered some possible insight on this phenomenon here.
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