Are the COMEX and LBMA bullion banks that desperate that they are now scraping the proverbial bottom of the London gold vaults, planning to deliver the GC 100 contract into long forgotten 400 oz gold bars in deep storage under the Bank of England?

Is there such an upcoming shortage of physical silver that the COMEX needs to approve every silver refinery on the planet, both current and former, so as to have a large enough universe of silver bars to tap including long forgotten silver bar brands?

CME raises silver margins by 15%

Gold has 32,732 contracts called for delivery on the first day of the new month.

CME raises silver margins by 12.5%

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.

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

CME lowers silver margins by 11%

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.

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.

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’.