GOLD 0.51% $1,391.7 gold futures

"short squeeze in gold to shock the world", page-39

  1. 7,423 Posts.
    lightbulb Created with Sketch. 152
    BMD

    "It is now clear that Germany will be forcing America via the Comex to immediately deliver at least 21.5 Tonnes of Gold, which is close to 10% of the 300 Tonnes it has formally requested from the NY Federal Reserve."

    This is nonsense!

    21.5 Tonnes of Gold is equivalent to 7,583 contracts. The open interest (and maximum likely delivery) at close of business on Feb 1 is 5,644 contracts.
    http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html

    By the way, if the Germans go long Gold Futures and take delivery, they have to pay for the gold. That would require $1.274 billion, and the Fed would still have the original gold.

    Have you thought this through?


 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.