2020 6 month metal flow - putting the demand into perspective.

Perth Mint flows for June

Now they are running silver as well as gold at the CME - the first day saw 11458 contracts or 57 million ounces called for delivery which is the highest monthly amount ever - let along just for the first day. Also there was 3316 gold contracts which is a decent chunk for gold's off month.

Also of note in the deliveries is the platinum ones - also the highest amount on record.

What does it suggest to you on a renown paper trading exchange when the players decide instead of taking profits in fiat they they instead decide to take physical & in the largest size ever.

Run that short squeeze......

More than a dozen Chinese financial institutions, mainly trust companies, loaned 20 billion yuan ($2.8 billion) over the past five years to Wuhan Kingold Jewelry Inc. with pure gold as collateral and insurance policies to cover any losses.

What could go wrong?

Well, plenty, as at least some of 83 tons of gold bars used as collateral turned out to be nothing but gilded copper.

COTs this week

For a group famous for its caution in appearing associated with and endorsing gold, Western central bankers seem to have made an exception when it comes to sitting on the bord of directors of the world’s largest bullion bank gold cartel, the London Bullion Market Association (LBMA). But maybe that’s the point. Because, if central banks and their proxies are close to the action in the gold market, they will be able to control their interests, as well as influence and control others.

Introducing a new Thought-Leadership series to bring you thought-provoking insights from industry-leading experts.

Swiss flows for May

COTs this week

Word from behind closed doors at the Scotiabank, reveals the key market maker is set to withdraw completely from the London Bullion Market Association (LBMA), and close its doors permanently by the end of the year.