Tag - Gold Exchange

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Thursday, October 11 2018

Performance Bond Requirements:Metals Margins - CME Group

CME raises Bond Margins by 9.7%

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Tuesday, August 7 2018

LBMA at the Movies: Golden Turkeys

In March of this year, the London Bullion Market Association (LBMA) released a series of short videos about various aspects of the London precious metals markets and the role the LBMA claims to plays in those markets.

It is the ‘Who we Are’ and ‘How the Market Works’ videos which are worth discussing in the context that neither answers the questions that their titles suggest.

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Thursday, March 8 2018

LBMA Alchemy and the London Gold and Silver Markets: 2 Steps Back

Nothing more can be said about this trade reporting fiasco other than it must be obvious to everyone that the LBMA and its bullion bank members do not want the transparency that gold and silver trade reporting would provide. Otherwise they would not have spent 4 years on a project which any individual investment bank could start and complete within less than 3 months.

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Five banks open up trillion dollar gold club

The five banks that settle every transaction in London’s $6.8 trillion a year gold market are changing the rules of their clearing house to make it easier for newcomers to join.

The reform is part of a broad overhaul of institutions that underpin the world’s largest bullion trading center to make them more transparent after accusations of price manipulation by banks and traders and pressure from regulators.

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Monday, January 8 2018

Performance Bond Requirements: Metal Outrights - CME Group

CME lowers gold margins by 21.3% to $3500 & silver margins by 23.1% to $4000

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Friday, December 22 2017

Moscow Exchange to launch deliverable gold futures in 2018

The Moscow Exchange will launch deliverable futures for gold in 2018 in a move to further prop up bullion market liquidity, bourse chief executive Alexander Afanasiev said on Thursday.

These deliverable futures will be denominated in roubles and the weight will be measured in grams, said Igor Marich, who oversees the bourse’s money and derivatives market.

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Thursday, December 7 2017

Performance Bond Requirements: Energy and Metals Margins - CME Group

Comex drops gold margins by 9.2% & silver margins by 11.9%

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Friday, November 3 2017

LME gold and silver Reference Prices: Will anyone notice?

On 29 August, the London Metal Exchange (LME) began publication of a set of daily reference prices for gold and silver. These reference prices aim to capture and reflect paper gold and silver market prices as at 10:30 am, 12:00 midday, and 3:00 pm London time.

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Monday, October 16 2017

London's Gold Crown Is Slipping

New rules from regulators, on top of uncertainties over the U.K.’s future relationship with the European Union, are denting the city’s position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage of London’s over-the-counter market.

Even before the regulations come in, the average net daily volume of gold settled by London Precious Metals Clearing Ltd. fell 12 percent in two months to 18.5 million ounces in August. In New York, the British capital’s biggest rival, trading in gold contracts jumped more than 25 percent in the third quarter from the previous three months, with activity during European hours surging 32 percent.

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Saturday, October 14 2017

Where Gold Trade Goes If London Loses Its Grip

More important, the float the giant stockpile of gold that underlies trading is heavily concentrated in the city. More than 7,000 tons of gold and 32,000 tons of silver, collectively worth almost $320 billion, are stored in hidden vaults managed by the Bank of England, JPMorgan Chase & Co., HSBC Holdings Plc, ICBC Standard Bank Plc and others, the LBMA said. And as long as the gold’s here, and the industry is willing to adapt to change, London will probably remain a force in the gold market.

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Wednesday, October 11 2017

LME to expand trading around gold and silver reference prices

Adding further clearing members is a top priority for the exchange as it looks to expand volumes on LME precious, the suite of gold and silver spot and futures it launched in July, Chamberlain said.

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Thursday, September 7 2017

Performance Bond Requirements: Gold Margins - CME Group

CME raises Gold Margins by 6%

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Monday, August 28 2017

Third time lucky for Hong Kong bourse as gold futures trading gets off to a glittering start

The two new gold futures has over 29,074 contracts in their first seven weeks of trading, which has helped stock brokers to diversify their income source.

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Thursday, August 10 2017

Performance Bond Requirements: Gold/Silver

CME raises gold & silver margins by approx 8%

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Wednesday, August 2 2017

LBMA Gold Vault Data - How low is the London Gold Float?

The most important number in all of this is how much gold do the LBMA bullion banks in London own and control. It cannot be more than about 1500 tonnes on the high side and less than 1000 tonnes on the low side. But still the London gold market trades over 6000 tonnes of gold equivalent each day, which is over 143,000 tonnes per month or 1.6 million tonnes per year. This is only possible because the London gold market is a giant fractional-reserve system of paper gold trades with very tiny physical gold underpinnings.

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Tuesday, August 1 2017

Demystifying London's Gold and Silver Vault Holdings

The LBMA vault holding data outlined below represent the volume of Loco London gold and silver held in the London vaults offering custodian services. As at 31 March, 2017 there were 7,449 tonnes of gold, valued at $298 billion and 32,078 tonnes of silver valued at $19 billion. This equates to approximately 596,000 gold bars and 1,069,255 silver bars.

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Monday, July 31 2017

Revealed for the first time: just how much gold is in London's vaults

New data has revealed that around 7,500 tonnes of gold was held in London in March of this year – the equivalent of 596,000 gold bars, or £227bn-worth of gold.

The data also revealed that London’s vaults held 32,078 tonnes of silver in March, worth £14.5bn.

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Thursday, July 27 2017

London Metal Exchange to publish gold, silver reference prices within weeks

The London Metal Exchange (LME) will start publishing gold and silver reference prices, the exchange told Reuters on Tuesday, potentially challenging the dominance of benchmarks administered by Intercontinental Exchange (ICE).

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Wednesday, July 19 2017

80 tonnes of gold traded on LMEprecious in first week

The London Metal Exchange said on Monday that 2.6 million ounces (79.6 tonnes) of gold and 12.8 million ounces (397.5 tonnes) of silver was traded through its LMEprecious contracts in their first week of trading.

LMEprecious, which includes spot, daily and monthly futures, launched on July 10 with backers including banks Goldman Sachs and Morgan Stanley who committed to provide liquidity as part of a 50:50 revenue-sharing deal with the LME.

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Is the COMEX Rigged?

With the London Gold Market trading unlimited quantities of unallocated gold which the bullion banks create out of thin air, and with COMEX trading gold futures which are also created out of thin air, the disconnect between the world of unlimited paper gold and the world of limited physical gold is becoming ever more stark.

On one side lies paper claims on gold which come into and out of existence through cash-settled market mechanisms. On the other is real physical gold that is segregated, allocated and unencumbered, with full title held by the gold holder. Paper gold ownership is fleeting, speculative and prone to counterparty and conversion risks. Real gold is tangible, has inherent value, has no counterparty risk, and can be securely stored.

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