Gold and Silver exchanges are going to be forced to become cash spot contract physical exchanges. Is this a market mistake, or a massive physical gold project of those who now own all the gold?
It is a project in my opinion that the knuckle draggers at the Comex are yet to figure out. If you are a successful knuckle dragger at the Comex you become a board member but remain a knuckle dragger intellectually.
The Comex will not wait until they have only one ounce left in the warehouse. They will once again change the rules of delivery and go to 100 percent margin. This is gold taking advantage of the premium of physical over Comex spot contract, their cash gold representation. I do not see this as a market accident but a well crafted plan to kill paper no gold contracts and emancipate physical to rise to prices once said here but never again.
Ask yourself these following questions again:
Where has all the gold gone?
Is this where all the gold in Morgan’s vault went?
Are the Gold Banks executing the Comex exchange?
Remember, sharks love to eat sharks until there is only one fast shark left.
This is the Death Rattle of the Comex exchange. It was originally falsely reported as scrap gold for refining. It is now more properly reported as follows:
“They added that it was likely that a client who had invested in the gold futures market had decided to take physical delivery of its gold bars in the US when the contract expired. The gold is most probably just passing through and bound for markets such as China or India. While there are refineries in North America, gold can be sent to different refineries around the world depending on prices or existing relationships.
One reason to refine the gold might be because there is a premium for a smaller bar sold in the retail industry in India and China.”
South Africa to refine $1.1 billion worth Gold for US
Tuesday, May 21st 05:42 PM IST
JOHANNESBURG(BullionStreet): South Africa’s largest gold refinery, Rand Refinery, also one of the biggest in the world, said it will refine huge quantities of gold from the US.
According to Rand Refinery’s chief executive, Howard Craig, the shipment of unusually large quantities of gold bound for the refinery (worth $1.1-billion) is just business as usual for the company.
He said it is nothing out of the ordinary as Rand Refinery does refining of gold and silver for Africa as well as the conversion of gold from various other countries, such as the US.
The company imports over 200 tonnes of gold per annum and its activities are not necessarily event or country specific,” although it does not source any metal deposits from conflict-affected areas, he added.
Craig said the company could not acknowledge or attest to any statistics or facts that had not been provided by the company itself.
The commodity movement was detected in recent United States trade data that showed South Africa’s $402-million trade surplus with the US in January had turned into a $689-million deficit by March.