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

Summary:
Triggered by a COMEX – Spot spread blow out in the wake of a failure delivery in gold Exchange for Physical (EFP) transactions, an unprecedented 730 tonnes of gold has flowed into COMEX gold vaults between 24 March and 30 June. mostly into the vaults of JP Morgan and Brink’s. The chain of events can be traced back to the LBMA rush on 24 March to “facilitate physical delivery of gold in New York”. But why were gold deliveries needed at all to COMEX if there were, as the LBMA and CME maintained on 1 April “healthy gold stocks in New York”? Continue reading… Powered by WPeMatico Post Views: 7

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COMEX New York vaults add 730 tonnes of gold since the end of March Triggered by a COMEX – Spot spread blow out in the wake of a failure delivery in gold Exchange for Physical (EFP) transactions, an unprecedented 730 tonnes of gold has flowed into COMEX gold vaults between 24 March and 30 June. mostly into the vaults of JP Morgan and Brink’s.

The chain of events can be traced back to the LBMA rush on 24 March to “facilitate physical delivery of gold in New York”. But why were gold deliveries needed at all to COMEX if there were, as the LBMA and CME maintained on 1 April “healthy gold stocks in New York”? Continue reading…

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