Sunday, January 17, 2021

Tag: Where Have All the Specs Gone? – Craig Hemke (May 05

Where Have All the Specs Gone? – Craig Hemke (May 05, 2020)

by Craig Hemke, Sprott Money:

One might think that the current madness combined with QE∞ from the global central banks would lead to surging speculator interest in owning and trading COMEX precious metals futures. But the opposite is true. How weird is that?

These are odd times in the global precious metals markets. Across COMEX and LBMA, all sorts of strange occurrences have been taking place. From the COMEX EFP near-delivery default of March 24…to the rushed creation of a CME contract that “delivers” partial London bars…to the LBMA exaggerations of available gold in London vaults…to the oft-parroted line about gold “being in the wrong place”…the past six weeks have witnessed events unprecedented since the failure of The London Gold Pool in 1968 and the creation of COMEX gold futures in 1975.