Tag - Gold Exchange

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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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CME Deliveries: Metals Issues And Stops Report

CME deliveries stopped for 17302 contracts

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Sunday, March 29 2020

Coronavirus pushes London banks to consider additional gold storage sites

The five banks that clear gold trades in the London market are considering expanding their network of storage locations to other countries if it becomes impossible to fly enough gold in and out of London, said two sources involved in the discussions.

The move would be aimed at reducing the risk of disruption if metal cannot reach London, the world’s most important physical gold trading hub, where trades are underpinned by metal held in high-security vaults.

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Friday, March 27 2020

Initial Listing of the Gold (Enhanced Delivery) Future - CME Group

Effective Sunday, April 5, 2020, for trade date Monday, April 6, 2020, and pending all relevant CFTC regulatory review periods, Commodity Exchange, Inc. (“COMEX”or “Exchange”) will list the Gold (Enhanced Delivery) Futures contract (the “Contract”) for trading on the CME Globex electronic trading platform and for submission for clearing via CME ClearPort as noted in the table below.

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Wednesday, March 25 2020

LBMA colludes with the COMEX – To lockdown the global gold market?

So what is exactly going on here? Who is bailing out who? The same bullion banks operate in both markets. Is the LBMA bailing out some of its bullion bank members that have blown up while at the same time propping up the COMEX edifice? If so, with the LBMA just being a trade association with the bullion banks at the helm, where are the 400 oz gold bars coming from? The HSBC or JP Morgan vaults in London? Or that famous gold lender of last resort, the Bank of England?

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Performance Bond Requirements: Metals Margins - CME Group

CME raises silver margins by 12.5%

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CME resolving physical gold squeeze with delivery of 100-ounce, 400-ounce and 1-kg bars

Tuesday evening, the futures exchange announced the launch of a new gold futures contract with expanded delivery options that include 100-troy ounce, 400-troy ounce and 1-kilo gold bars.

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CME pushed to change gold delivery rules amid coronavirus lockdown

The London Bullion Market Association (LBMA) and several major banks that trade gold have asked U.S. exchange operator CME Group Inc to allow gold bars in London to be used to settle its contracts to ease disruption to trading, sources said.

The rule change would obviate the need to reshape and transport metal, meaning it could remain in vaults in London while ownership is transferred. If this happened spot and futures prices could converge and markets trade normally, sources said.

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CME pushed to change gold delivery rules amid coronavirus lockdown

The London Bullion Market Association (LBMA) and several major banks that trade gold have asked U.S. exchange operator CME Group Inc CME.O to allow gold bars in London to be used to settle its contracts to ease disruption to trading, sources said.

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Tuesday, March 24 2020

Performance Bond Requirements: MetalsMargins - CME Group

CME raises gold margins by 19.3%

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Thursday, March 19 2020

Performance Bond Requirements: Metal Margins - CME Group

CME raises silver margins by 14.3%

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Monday, March 16 2020

Performance Bond Requirements: Metal Margins - CME Group

CME raises gold & silver margins by 16.7%

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Monday, March 2 2020

Performance Bond Requirements: Metals CME Group

Gold & Silver margins raised 9.1%

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Sunday, March 1 2020

Comex Gold Margins

Comex raises gold margins by 10%

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Wednesday, January 8 2020

Performance Bond Requirements: Metals Margins

CME raises gold margins by 11% & silver margins by 6%

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Tuesday, January 7 2020

LBMA Precious Metals Conference: What to Expect for the 2020s

Last October, I participated in the London Bullion Market Association’s (LBMA) annual Precious Metals Conference, which was hosted this year in Shenzhen, China. Participants ranged from investment bank precious metals traders to logistics firm representatives, equipment manufacturers, refineries, and miners to even some central bankers who came from all over the world.

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Saturday, January 4 2020

LBMA claims record amount of gold in London’s vaults

But with only 1173 tonnes of real physical gold held in the LBMA commercial vaults that is unconnected to ETFs out of a total of 3076 tonnes, this means that only 38% of the gold in the LBMA commercial vaults is available to support the London gold market. However, in reality, out of the ‘record’ 8228 tonnes of gold which the LBMA claims is held in London, only 14% of this total (1173 tonnes) is available to ‘underpin’ the giant gold trading and clearing casino that is the London gold market on any normal trading day.

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Monday, November 18 2019

Did the Comex Just Create More 'Paper Gold' For Price Suppression?

Ultimately, the use of “London gold” and Comex warehouse warrants expands the fractional-reserve gold banking system and further weaponizes “paper gold” in support of the longstanding bullion bank and central bank campaign to suppress the gold price.

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