The COMEX just release its gold stock numbers and we have a new peak in leverage of paper gold against physical gold.
JP Morgan converted a record amount of 89000 ounces of registered gold into eligible gold, which sent the leverage soaring to 21.
JP Morgan converted a record amount of 89000 ounces of registered gold into eligible gold, which sent the leverage soaring to 21.
This is how it looks like and physical shortage with cash settlement is on the horizon:
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