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Numismatic News/Patrick Heller
“On Tuesday, March 24, two different bullion wholesalers told us that the London Bullion Market Association, the world’s largest gold market, was not delivering any gold to settle maturing contracts that had been called for delivery of the physical metal. While this cessation of delivery was accurate, there were multiple possible explanations as to what occurred, each of which avoided terming the non-delivery of gold as a “default” by the exchange.”
USAGOLD note: Heller goes on to list those possible explanations and ends by emphasizing that the shortage persists even after all the subsequent changes and amendments Comex made to address the problem. “As more people are willing to pay ever-higher premiums to get their hands on bullion-priced physical coins and ingots,” he says, “the risk of collapse—a formal default—of the ‘paper’ gold and silver markets is also rising.”
Repost from 4-6-2020 [Please scroll below for updates posted today – 4/13/2020]