Traders on CME Group’s (CME.O) Comex exchange in New York said on Thursday they would deliver 102 tonnes of gold to holders of expiring futures contracts, in the biggest one-day delivery on record.

Silver margins rise 11%

Reported gold holdings in COMEX approved vaults rocketed from 8.7 mn ozs to over 32 mn ozs between 24 March and 30 June

As part of its continuing effort to monitor and manage its suite of exchange traded notes, Credit Suisse AG has decided to delist the foregoing ETNs with a view to better align its product suite with its broader strategic growth plans.

UGLD - USLV - DGLD - DSLV

Word from behind closed doors at the Scotiabank, reveals the key market maker is set to withdraw completely from the London Bullion Market Association (LBMA), and close its doors permanently by the end of the year.

The New York gold market has been flipped on its head in just a couple of months, with a scramble for the metal turning into a glut.

In conclusion, anyone who has investment and assets with values based on the LBMA Gold Price should at this point be worried by this and should urgently be asking why IBA is refusing to explain why the LBMA Gold Price is not taking into account current market conditions in the form of the highly liquid COMEX gold futures prices, and thereby completely understating the LBMA Gold Price benchmark reference price that is used to value trillions of dollars worth of gold related investments around the world every day.

As the owner of the LBMA Gold Price, the same questions should be asked to the London Bullion Market Association. Remember a fish rots from the head down. Because if your investments are based on the LBMA Gold Price, you and your assets are right now being short-changed. And don’t let the LBMA bluff about physical gold not being able to make it on flights from London to New York. That was never the problem. The problem is a liquidity problem within the LBMA market caused by liquidity problems at LBMA market making bullion banks.

Gold liquidity in London will then disappear entirely, at which point those with a claim to custodial gold will hope that their property rights remain protected.

Effective at the close of trading May 28, 2020 for the June 2020 contract month and beyond, the Commodity Exchange, Inc. (“COMEX” or “Exchange”) will increase the spot month position limits for five (5) gold futures and option contracts from 3,000 to 6,000 futures contract equivalents as noted below and in Exhibit A & B of COMEX Submission No. 20-184. Additionally, the Exchange will increase both the single and all month accountability levels from 6,000 to 8,000 futures contract equivalents.