by David Kranzler
Investment Research Dynamics
If the Comex were allowed to issue paper contracts representing no more that 10 or 20% of the actual amount of gold held by Comex vaults, what would the price of gold be?
1.176 million ounces of gold have been delivered – or should I say “delivered” – for the June contract six days into the June contract delivery period. I don’t follow the delivery patterns as closely as I used to, but this is a massive amount of stated deliveries. Even more interesting is the fact that there’s still 6,683 Juno contracts open representing 668,300 ozs of potential deliveries. This is a relatively high number of contracts still open this far into the delivery period.