Russia-China Real Gold Standard Means End Of US Dollar Dominance

Russia-China real gold standard means end of US dollar dominance:

The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert.

In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.

Gold moving from the West to the East

“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse, he told RT.

The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy

Read moreRussia-China Real Gold Standard Means End Of US Dollar Dominance

June Gold: 775,000 Ounces of Gold ‘Delivered’ On Comex In First Three Days

June Gold: 775,000 Ounces of Gold ‘Delivered’ On Comex In First Three Days:

This is a significant change of pace for the paper heavy Comex.

Although it should be noted that much of the ‘delivering’ is being done between the house accounts of the big three bullion bankers: HSBC, JPM, and Nova Scotia.

It is also interesting that the registered or ‘deliverable’ gold held in the warehouses mushroomed to over a million ounces prior to these unusually high deliveries.   Just noting this, vis a vis the jokers who say that the registered gold metric is now unfashionable and irrelevant for any variety of contrived reasons they do not really seem to fully understand.

Read moreJune Gold: 775,000 Ounces of Gold ‘Delivered’ On Comex In First Three Days

And Here’s Why the Gold and Silver Futures Market Is Like a Rigged Casino…

gold-comex

Here’s Why the Gold and Silver Futures Market Is Like a Rigged Casino…:

A respectable number of Americans hold investments in gold and silver in one form or another. Some hold physical bullion, while others opt for indirect ownership via ETFs or other instruments. A very small minority speculate via the futures markets. But we frequently report on the futures markets – why exactly is that?

Because that is where prices are set. The mint certificates, the ETFs, and the coins in an investor’s safe – all of them – are valued, at least in large part, based on the most recent trade in the nearest delivery month on a futures exchange such as the COMEX. These “spot” prices are the ones scrolling across the bottom of your CNBC screen.

Read moreAnd Here’s Why the Gold and Silver Futures Market Is Like a Rigged Casino…

Something Snapped At The Comex

comex gold coverage ratio

Something Snapped At The Comex:

There had been an eerie silence at the Comex in recent weeks, where after registered gold tumbled to a record 120K ounces in early December nothing much had changed, an in fact the total amount of physical deliverable aka “registered” gold, had stayed practically unchanged at 275K ounces all throughout January.

Until today, when in the latest update from the Comex vault, we learn that a whopping 201,345 ounces of Registered gold had been de-warranted at the owner’s request, and shifted into the Eligible category, reducing the total mount of Comex Registered gold by 73%, from 275K to just 74K overnight.

Read moreSomething Snapped At The Comex

Gold Analyst Warns: ‘There Are About 325 Paper Ounces For Every Physical Ounce Backing It’

Gold-Nugget

Gold Analyst Warns: “There Are About 325 Paper Ounces For Every Physical Ounce Backing It”:

Back in September Zero Hedge reported that something snapped in the COMEX market and all indicators suggest there was a relentless outflow in registered gold. At that time there were about 202,054 ounces of gold available for delivery. To put that into perspective, Craig Hemke of TF Metals Report points out that just earlier this year there were nearly one million registered ounces available.

What this likely means is that someone, somewhere is requesting that their paper holdings be converted into deliverable physical gold. All the while many a mainstream pundit has declared that gold is nothing but a relic of times past. Yet, despite its purported unpopularity, since the last time the COMEX snapped in September even more registered gold has disappeared.

Read moreGold Analyst Warns: ‘There Are About 325 Paper Ounces For Every Physical Ounce Backing It’

Eric Sprott Unleashed: “Everything is a Lie… They’ve Got To Pretend There Is An Economic Recovery Happening”

Sprott Unleashed: “Everything is a Lie… They’ve Got To Pretend There Is An Economic Recovery Happening”:

If the government’s official statistics are to be believed the U.S. economy is moving full steam ahead. Consumers are spending, the job market is expanding, real estate has recovered, stocks are soaring and the U.S. dollar is stronger than it has been in a decade.

But if you have yet to realize it, it’s all a lie. So says billionaire investor Eric Sprott of Sprott Global, which manages hundreds of millions of dollars in contrarian investment funds for clients all over the world. Well known for his long-term bullishness on the resource sector, specifically precious metals, Sprott joined First Mining Finance chairman Keith Neumeyer in a must-see interview where the pair discuss everything from the state of the global economy and trade to gold market manipulation and the inevitable breakdown of highly leveraged paper trading exchanges.

Read moreEric Sprott Unleashed: “Everything is a Lie… They’ve Got To Pretend There Is An Economic Recovery Happening”

About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday

Gold-bars-111

About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday:

Via Jesse’s Cafe Americain,

Roughly 21 tonnes, or 685,652 troy ounces of gold in .999 fine kilo bars, was withdrawn, net of a small deposit of 27,328 ounces, from the Brinks warehouse in Hong Kong yesterday.

cmeinventory

To put that into some perspective, that is the same amount of all gold in the entire JPM warehouse in the US.

Read moreAbout 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday

There Are Now 293 Ounces Of Paper Gold For Every Ounce Of Physical As Comex Registered Gold Hits New Low

This will surely end well.


gold dilution nov

There Are Now 293 Ounces Of Paper Gold For Every Ounce Of Physical As Comex Registered Gold Hits New Low:

As of today, the gold “coverage” ratio, or the amount of paper claims for every ounce of physical, has just hit a new all time high of 293 ounces of paper per ounce of registered physical.

Curiously, the last time we observed a comparable surge in the Comex dilution ratio took place just two months ago when a comparable “adjustment” reduced JPM’s “Registered” inventory by 122,124 ounces. Back then many said the adjustment would be promptly reversed.

Read moreThere Are Now 293 Ounces Of Paper Gold For Every Ounce Of Physical As Comex Registered Gold Hits New Low

Something Just Snapped At The Comex (Updated)

Something Just Snapped At The Comex (Updated) (ZeroHedge, Sep 9, 2015):

As of Friday the comex gold “coverage” or amount of paper claims on every ounce of physical, was literally off the chart, soaring to a mindblowing 207 ounces of paper gold claims for every ounce of deliverable gold. This also means that the dilution ratio between physical gold and paper gold has hit a new all-time low of just 0.48%!