Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Did the ECB Save COMEX from Gold Default?
  • 30th March Deutsche Bank gives notice of delivery of 850,000 ounces of gold to fulfill its obligation to Longs demanding delivery on the March COMEX futures contract.
  • On 31st March the ECB makes surprise announcement of the sale of 1.1 million ounces of gold to an undisclosed purchaser.
  • On the same day Deutsche Bank delivers the 850,000 ounces to a COMEX Warehouse.

Interesting - if obvious - questions raised at 'Seeking Alpha'

My two pennyworth: The incidence of futures contract longs demanding physical delivery on expiry is going parabolic. There were rumours of an impending default right up to the December expiry. It did not materialise in spite of the largest ever physical delivery required. The above article makes a credible case for DB having been saved from a default by the ECB on the March contract. All eyes now turn to June where I have no doubt it will be a close run thing again but with the much ballyhoo'd 'inevitable price explosion' still tantalisingly on the horizon.

Da Boyz are still in control.
Peter Presland

".....there is something far worse than Nazism, and that is the hubris of the Anglo-American fraternities, whose routine is to incite indigenous monsters to war, and steer the pandemonium to further their imperial aims"
Guido Preparata. Preface to 'Conjuring Hitler'[size=12][size=12]
"Never believe anything until it has been officially denied"
Claud Cockburn


Possibly Related Threads…
Thread Author Replies Views Last Post
  Deutsche Bank Blows Lid on Cartel who Fixes Gold Price David Guyatt 7 7,214 23-04-2016, 09:42 AM
Last Post: David Guyatt
  The Real Reason Why Germany Halted Its Gold Repatriation From the NY Fed Lauren Johnson 19 9,283 21-11-2014, 12:49 AM
Last Post: Magda Hassan
  China's Demand for Gold Has Trapped The West's Central Banks Peter Presland 5 3,678 11-04-2014, 09:05 PM
Last Post: Paul Rigby
  Now Bloomberg say what we all already knew - the gold price is fixed David Guyatt 0 2,113 02-03-2014, 10:37 AM
Last Post: David Guyatt
  The US Federal Reserve It refuses to return the German gold before 2020 Magda Hassan 1 2,365 17-08-2013, 10:50 AM
Last Post: Magda Hassan
  Gold market manipulation Jan Klimkowski 13 11,762 30-04-2013, 12:15 PM
Last Post: David Guyatt
  Cyprus announces intent to sell gold reserves David Guyatt 3 3,075 18-04-2013, 02:25 AM
Last Post: Magda Hassan
  Barrick Gold (CIA/Mafia Front) Co-Chairman Paid $17-million in 2012 Peter Lemkin 1 4,075 10-04-2013, 11:22 AM
Last Post: David Guyatt
  The Assault on Gold - By Paul Craig Roberts Adele Edisen 1 2,019 09-04-2013, 09:52 AM
Last Post: David Guyatt
  Where's the Gold - odd things happening down at the Comex Chris Bowen 36 25,792 17-01-2013, 08:39 PM
Last Post: Jan Klimkowski

Forum Jump:

Users browsing this thread: 1 Guest(s)