You are here
TF Metals Report: JPM seems to have stopped stacking Comex metal
10:34a ET Tuesday, July 18, 2017
Dear Friend of GATA and Gold:
JPMorganChase & Co. seems to have gotten out of the Comex gold and silver markets in recent weeks, after accumulating huge stocks of both monetary metals, the TF Metals Report asserts today.
The TF Metals Report wonders if this change has resulted from the U.S. Commodity Futures Trading Commission's starting to enforce position limit rules against the bank, or if the bank has decided that it now has enough gold and silver to allow their prices to rise.
Of course since JPM's commodity chief, Blythe Masters, insisted five years ago that the firm was trading the monetary metals only for clients, not for its own accounts --
http://www.cnbc.com/video/2012/04/05/jpmorgans-masters-one-on-one.html
https://www.youtube.com/watch?v=gc9Me4qFZYo
https://www.benzinga.com/media/cnbc/12/04/2478161/jp-morgan-commodities-...
-- it may be fair to suspect that the firm's clients in the monetary metals market include the U.S. government and other governments and central banks. Or maybe the bank's metal stockpiles have been amassed on behalf of one government client for delivery to another government.
Unfortunately no one in the mainstream financial news media dares to raise such obvious questions.
The TF Metals Report's analysis is headlined "A Specific Peculiarity" and it's posted here:
https://www.tfmetalsreport.com/blog/8451/specific-peculiarity
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth
With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.
Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.
Crucial guides to storage in Singapore and Switzerland can be read here:
http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore
http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland
GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.
Email the GoldCore team at info@goldcore.com or call our trading desk:
UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.
Visit us at: http://www.goldcore.com
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/
Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
