No thats right.. now how much real silver bullion to long future orders would be good to know real numbers -read recently COMEX has a silver bullion holding of round 30moz now there was talk of july Silver longs in place over 500moz on the comex... now we know most of these will not ask for real silver but roll over or close contract but if they didn't??
Now The Hong Kong Mercantile Exchange (HKMEx) has received authorisation from the Securities and Futures Commission and will make its trading debut on May 18, 2011 with the 1-kilo gold futures contract offered in US dollars with physical delivery in Hong Kong.
The ATS authorisation grants HKMEx the right to offer market participants, through its member firms, the use of its state-of-the-art electronic platform to trade commodities. The Exchange will begin trading with at least 16 members including some of the world?s largest financial institutions as well as several well-established brokerages in Hong Kong.
?We are very excited about this historic day. It allows us to establish a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world,? said Barry Cheung, chairman of HKMEx. ?Global demand for core commodities has in recent years been driven by Asia, especially China and India. However, market participants in the region have had to rely on Western exchanges for price discovery, bearing the basis risk exposure in the process. Our new platform will offer Asia a bigger say in setting global commodity prices. It will also enable market participants to more actively manage their risk exposures, using products tailored to Asian market needs.?
Guess what part of the world respects Gold/Silver as a very good asset to hold...........
