London on the Limit – The Available "Float" of Gold and Silver is Disappearing

[Igor Pereira]

We've just looked at the year-end data. LBMA (London Bullion Market Association). If you wanted to know why the banks are so desperate at COMEX, the answer is in London.

By Igor Pereira Financial Market Analyst

The graphs show that although the "total" inventory appears stable, the metal available for trading (Float) It's dangerously low. Most of the metal already owns (ETFs and Central Banks).

Below, the autopsy of London's stocks confirms the global physical grip.

The Gold chart is misleading to the untrained eye, but alarming to the expert.

• Total: London has 9,106 Tons in safes.

• The Reality: Of that total, 4.056 Tons are reserves of the Bank of England (untouchable) and 2.622 Tons belong to ETFs (ownership of investors, not banks).

• The Float: The amount of gold actually available for rent, exchange and immediate delivery by the banks is only 1.306 Tons (the light blue/cyan band at the top).

• Trend: Notice how the dark blue band (ETFs) is growing and eating the Float space. Institutional money is blocking the physical, removing the liquidity of ingot banks.

If the Gold is tight, the Silver is in critical emergency.

• Visual Collapse: Look at the other London Holdings on the chart. In 2021, it was a massive mountain. Today, it's a narrow band.

• Numbers: Total 27.817 Tons, massive 22.067 Tons They're locked in ETFs. They're not for sale.

• The Danger: That leaves only 5,750 Tons Float in London.

• Connection: Remember that China drained 88 tons in one day and COMEX delivered 31 million ounces (almost 1,000 tons) in January. With only 5,750 free tons in London, the "lung" of the western market is running out of air.

The market operates on the margin. It doesn't matter if there are 27,000 tons if 22,000 can't be touched.

• Leverage: Banks sell leveraged paper (Short) assuming they can borrow metal from London if they need it.

• Checkmate: With Silver Float reduced to measly 5,000 tons and Gold Float to 1,300, any sudden increase in physical demand (as we are seeing in China) will cause a delivery failure. There's not enough floating metal to cover the paper shorts.

London can no longer save New York. Security buffer's over.

My Reading: We're looking at the "ETF-ization" of the stock. Metal is migrating from banking hands (which they use to suppress price) to the hands of strong investors (ETFs) who hold it in the long run.

Action: This reinforces our high vertical thesis. With the floating stock so thin, volatility will be explosive upwards. Don't sell your physique. You're holding the lowest asset in the financial system.

---

Game Turned: The Forbidden Chart

There's a third safe, outside London and New York, which is quietly accumulating what's left of the Western Float. Our members Premium You know who this mysterious player is and how to follow in his footsteps.

Ensure your place in the elite market: "> CLICK HERE TO ACCESS THE PICTURE