At the end of what turned out to be another wild week of trading in the precious metals markets, what is happening behind the scenes in the gold market is truly shocking.
GOLD MARKET: Desperate Times Call For Desperate Measures
August 8 (King World News) – Alasdair Macleod: “When we look at what’s happening on Comex, some gold came in from places like Switzerland, about 110 tonnes back in March and April. What is interesting is, I wonder what the source of that gold is? My guess is that it either came directly or on the direction of the Bank for International Settlements to try, if you like, to alleviate the market from a short into physical because suddenly everybody was standing for delivery. The first time they did it it was 162 tonnes, that was back on the June contract. This last contract works out to about 110 tonnes. I mean these are huge figures in a market where people don’t traditionally stand for delivery.
I think the point is people are waking up to what’s happening and demanding physical metal. They don’t want forwards anymore. And the point about London is that you’ve got something like $500 billion worth of entirely unallocated accounts outstanding — that was the figure at the end of 2019 that was collected by the Bank for International Settlements. So we can reckon that figure is pretty accurate. But if you get a failure in the London Bullion Market, then that’s…To continue listening to this powerful KWN audio interview with Alasdair Macleod click here or on the image below.
UNPRECEDENTED: Bullion Banks Take Losses
***ALSO JUST RELEASED: UNPRECEDENTED: Bullion Banks Take Losses On 124 Tonnes Of Scarce Physical Gold, Plus Hedge Funds Also Exposed To Gold Short Squeeze Along With Bullion Banks CLICK HERE.
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