from WallStForMainSt
This week, paper gold prices had their best week since 2008 https://www.marketwatch.com/story/gol…
However, the volatility in paper gold and silver prices has been absolutely enormous! Early this week, gold prices swung around $200/oz in around a 24 hours period. They got as low as $1480/oz and then went up to $1689/oz before the paper price was smashed down to current levels.
Many bullion dealers are charging enormous premiums for their physical gold and silver, if they have any metal in stock at all. Some silver premiums are $10/oz or higher and gold premiums are $140/oz or higher.
‘There is no gold.’ Bullion dealers sell out in panic buying https://www.marketwatch.com/amp/story…
Fed move awakens gold, just as supply of the metal hits a snag https://www.marketwatch.com/amp/story…
Global Gold Price Markets Broken & Record U.S. Mint Gold & Silver Eagle Sales https://www.zerohedge.com/news/2020-0…
Bullion Banks are even having problems! ABN Amro Abandons 106 Year Physical Gold Business, Clients Forced To Sell https://www.zerohedge.com/commodities…
And, of course, the CME, owners of the COMEX and the LBMA are charging the rules starting with margin requires and deliver rules:
1) “The Gold Market Is Breaking Down”: Gold Spreads Explode As LBMA Warns Of Liquidity Problems https://www.zerohedge.com/commodities…
2) CME Urged To Change Physical Gold Delivery Rules Amid Market “Breakdown” https://www.zerohedge.com/commodities…
3) What’s Causing The Gold & Silver Sell-off? https://www.peakprosperity.com/whats-…
4) CME boosts margin requirement for gold futures https://seekingalpha.com/news/3554973…
5) CME Group To Change Gold Futures Contracts, Increases Margin Requirements https://thedeepdive.ca/cme-group-to-c…
6) Gold margin changes by CME since 2009 https://www.kitco.com/news/2020-03-25…
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