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86 sats \ 4 replies \ @freetx 12 Feb
I've been puzzling over why Gold is moving from London to US vaults?
One of the theories for recent runs is that now the Shanghai exchange is fully up and running, and they are physically settled (not cash settled like LBMA / Comex)
....that certainly explains why the price may now be running up as cash settled exchanges are now scrambling to deliver physical due to Shanghai being physically settled...but why would Shanghai demand force Gold to move to USA??
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10 sats \ 3 replies \ @SwapMarket 12 Feb
I think this is a kind of proof of reserves. Don't trust, verify.
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30 sats \ 2 replies \ @freetx 12 Feb
Sounds logically...
But if your from the US, why buy via LMBA and pay to ship to States when you could just buy on Comex in US and take delivery locally.....
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0 sats \ 1 reply \ @cyberpunk02 12 Feb
because theres probably no gold there, or it's on loan to someone else
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0 sats \ 0 replies \ @SwapMarket 12 Feb
exactly. paper gold
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0 sats \ 0 replies \ @Bell_curve 13 Feb
South Korea’s mint halts gold bar sales as "supply tightens."
https://www.disclose.tv/id/fxnpaunawv/
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0 sats \ 0 replies \ @Solomonsatoshi 12 Feb
More trade internationally is being settled via Chinese channels.
It started with Iran and N.Korea decades ago and accelerated with Russia since the Ukraine invasion.
Now its poised to accelerate further as nation states who do not want to have their USD reserves seized by the US and sanctioned from the SWIFT payments protocol move in advance to the Chinese alternative...and gold.
The collapse of the USD could be extremely swift if just a few more major oil producers switch from USD/SWIFT to Chinas new alternative.
China- reverse engineering the wests bank payments hegemony via the portal it was originally imposed- Hong Kong.
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