Re: Is the Bank of America shorting gold today?
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Message: Re: Is the Bank of America shorting gold today?
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I would doubt it is BoA, in view of the history in Gold / Precious Metals derivatives Q3/Q2. BoA with $500 million vs JPM with $108 Billion (74% of all outstanding, crowding out all others) BoA is not in the same league. In commodities and commodity equities it is also JPM that is dominant with 67% share of all outstanding derivatives.
http://www.occ.gov/deriv/deriv.htm
|
TABLE 9 Q3 2008 |
|
|
|
|
|
|
|
|
NAME |
Total |
Total |
Total |
Total |
GLD+ |
GLD + |
Incr/ |
|
|
Assets |
Derivatives |
Gold |
Prec |
Prec |
Prec |
Decr |
|
|
|
|
|
Metals |
Metals |
Metals |
|
|
JPM |
1´768´657 |
87´688´008 |
99´830 |
8´584 |
74% |
108´414 |
12.8% |
|
BoA |
1´359´071 |
38´673´967 |
384 |
134 |
|
518 |
-17.9% |
|
CITIBANK |
1´207´007 |
35´645´429 |
2´488 |
2´543 |
3% |
5´031 |
45.3% |
|
WACHOVIA |
664´223 |
4´221´834 |
|
|
|
|
|
|
HSBC |
181´587 |
4´133´712 |
24´244 |
7´417 |
22% |
31´661 |
-8.0% |
|
TOP 5 |
5´180´545 |
170´362´950 |
126´946 |
18´678 |
|
145´624 |
8.1% |
|
OTHER |
5´369´884 |
5´478´815 |
221 |
0 |
|
221 |
15.1% |
|
TOTAL |
10´550´430 |
175´841´765 |
127´167 |
18´678 |
|
145´845 |
8.2% |
|
|
|
|
|
|
|
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TABLE 9 Q2 2008 millions |
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|
NAME |
Total |
Total |
Total |
Total |
GLD+ |
GLD + |
|
|
|
Assets |
Derivatives |
Gold |
Prec |
Prec |
Prec |
|
|
|
|
|
|
Metals |
Metals |
Metals |
|
|
JPM |
1´378´468 |
91´287´215 |
85´261 |
10´888 |
71% |
96´149 |
|
|
BoA |
1´327´429 |
39´671´792 |
441 |
190 |
|
631 |
|
|
CITIBANK |
1´228´445 |
37´132´353 |
445 |
3´017 |
3% |
3´462 |
|
|
WACHOVIA |
670´639 |
4´447´446 |
|
|
|
|
|
|
HSBC |
177´466 |
4´063´104 |
27´523 |
6´896 |
26% |
34´419 |
|
|
TOP 5 |
4´782´447 |
176´601´911 |
113´670 |
20´991 |
|
134´661 |
|
|
OTHER |
5´147´933 |
5´533´522 |
192 |
|
|
192 |
|
|
TOTAL |
9´930´380 |
182´135´432 |
113´862 |
20´991 |
|
134´853 |
|
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