gold, page-94872

Enter, "stage Left" the NSFR (net stable funding ratio), a vital part of the BIS banking regulation changes, being phased in over several years, incl. 2021.
it is likely, if not further delayed, to adversely impact unallocated gold and silver paper ETFs, well known ones being the GLD and SLV, run by the bullion banks in London & New York, which comprise the LBMA.
June 28 is the date to watch this year, as LBMA banks are required to adopt the Basel3 NSFR regs from this date.
if you see concerted efforts to drive PM prices down in the June quarter while comex deliveries of metal spike, this could be the bullion banks loading up with metal, in an effort to meet the new NSFR requirements.
alternatively if some bullion banks quit the market, it could be a sign that the comex PM futures market manipulation is about to break.
The LBMA banks are faced with increased operating costs if they wish to stay in the gold and silver paper derivatives trade.
they may lose control of their price manipulations. the second half of 2021 looks bullish to me.