During the last week we mapped the Dark Bullion in GLD, similar to our SLV study. I've always been curious about what was happening with the inventory during August 2011 during that magnificent price peak, and here is an interesting look at that month. If you haven't already seen the mechanic and terminology, please have a read of SLV Database #5. The black band is bullion which was removed from the bar list, but which we confirm has been added back at a later time. Additionally, there is some color to show which of the inventory has a 'history' of being dark, for both visible and lost. The scale (measured in Fine Oz) has been adjusted to highlight the movements, but bear in mind the dark band only represents a small percentage of the total inventory held. |
| August and September 2011, clearly showing that the inventory from the big million-ounce removals were actually returned to the GLD inventory at a later date. |
