Tag - Gold Exchange

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Tuesday, July 7 2020

COMEX New York vaults add 730 tonnes of gold since the end of March

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

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Friday, June 26 2020

Central banker Musical Chairs at the LBMA – Fed exits, Banque de France joins

For a group famous for its caution in appearing associated with and endorsing gold, Western central bankers seem to have made an exception when it comes to sitting on the bord of directors of the world’s largest bullion bank gold cartel, the London Bullion Market Association (LBMA). But maybe that’s the point. Because, if central banks and their proxies are close to the action in the gold market, they will be able to control their interests, as well as influence and control others.

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Tuesday, June 23 2020

Credit Suisse AG Announces Its Intent To Delist And Suspend Further Issuances Of Its VelocityShares ETNs

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

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Friday, June 19 2020

The Curious Case of COMEX Gold Deliveries in April and June

A lot has been written about the London gold spot price – COMEX gold futures price spread (EFP) blow up on 23/24 March, whose detonation has sent across the gold market on each side of the Atlantic, and whose trigger has been the subject of much speculation and debate.

Importantly, the fallout from this seismic event continues to roll on, and has caused unusual goings-on among the bullion banks in London and New York

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Scotiabank is about to completely withdraw from the LBMA

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.

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Thursday, June 18 2020

Performance Bond Requirements: Silver Margins

CME lowers silver margins by 11%

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Thursday, May 28 2020

New York gold traders are drowning in a glut they helped create

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.

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Bullion banks prepare CME pullback after virus snarl

Gold trading banks are preparing to significantly reduce their positions on CME Group’s Comex exchange in New York, nine people familiar with the plans said, shifting more trading to London and raising costs for thousands of investors.

Some bullion banks are no longer willing to hold large positions on Comex, the biggest gold futures market, after the coronavirus snarled the supply of gold bars, sending Comex prices vaulting above London rates in March.

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Friday, May 1 2020

LBMA Gold Price benchmark ignoring market conditions, short-changing investors

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.

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Saturday, April 25 2020

Gold Bars Heading 11,000 Miles to New York in Supply Squeeze

Australia’s largest gold refinery has ramped up production of one kilogram bars to ease the supply squeeze in the U.S. that helped propel a surge in the premium for New York futures.

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Saturday, April 18 2020

The looming derivative crisis

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.

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Thursday, April 16 2020

COMEX Bombshell – Most eligible vaulted gold has nothing to do with COMEX

In the midst of the ongoing fractures in the paper gold markets that have triggered bullion bank panic from London to New York, forcing their public , the LBMA and CME Group (COMEX) to claiming “healthy gold stocks in New York and London”, we have consistently reminded those interested in the topic that the claims of the LBMA-COMEX do not stand up to scrutiny, in regards to both the London gold float, and the deliverable gold inventories in the COMEX approved New York vaults, especially when it comes to ‘Eligible gold’.

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Tuesday, April 14 2020

CME Group Raises Gold Position Limits

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.

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Monday, April 13 2020

COMEX secures secrecy agreement with CFTC under FOIA

COMEX secures secrecy agreement with CFTC under FOIA not to release details to the public of its market maker program for the new 400 oz gold futures contract hatched with LBMA, because "Disclosure Would Likely Cause Competitive Harm to COMEX". Program begins tomorrow April 13.

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Thursday, April 9 2020

Bullion Bank Nightmare as LBMA-COMEX Spread Blows Up Again

The gaping price differential between spot gold and gold futures that has been plaguing the paper gold markets in London and New York for the last three weeks shows no signs of abating and is continuing to flare up.

In essence, the contango phenomenon we are seeing is one of gold futures prices trading far above spot gold prices, a sign of liquidity problems in the London gold market and a signal that something is completely broken between the world‘s two predominant “gold price discovery" trading venues – which both, by the way, trade paper gold.

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Charter flights insured to ship gold to ease supply logjam

Insurance firms have started covering charter flights to carry gold, helping to ease logjams in the bullion supply chain that caused prices to diverge sharply in different markets, the London Bullion Market Association (LBMA) said on Thursday.

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Tuesday, April 7 2020

CME Warehouse Stocks

CME adds in almost 5m ounces to it's base physical holdings via holdings for it's new gold contract (4,833,153oz) - a 43% increase in physical.

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Friday, April 3 2020

LBMA and COMEX try to Reassure the Market – Twice in One Week

The moral of that story and the lessons that we can learn are simple – don’t believe the pronouncements of the powers that be in the London and US gold markets, especially during a crisis. In March 1968, during the last days of the London Gold Pool, as the central bank cartel ship began to sink, theystodd steadfast in denials that anything was amiss, brazenly saying that “the London Gold Pool reaffirm their determination to support the pool."

This time around, with their hollow claims about “healthy stocks of gold in London and New York”, and that the “LBMA has offered its support to CME Group”, the names may have changed but the denial strategy remains the same. It therefore seems that while history doesn’t repeat itself, it still often rhymes.

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Tuesday, March 31 2020

COMEX can’t find a 400 oz bar for its new 400 oz gold futures contract

With continuing problems besieging the tag team COMEX – LBMA paper gold markets where the front month gold futures contract (now June) continues to trade above the London spot price of price, the contango that emerged a week ago between the New York – London ‘gold price discovery’ duopoly shows no sign of abating.

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COMEX Gold Deliveries

First Day deliveries.

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