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Craig Hemke at Sprott Money: Comex gold offtake remains extraordinarily high

Section: Daily Dispatches

4:15p ET Tuesday, March 16, 2021

Dear Friend of GATA and Gold:

Gold offtake at the New York Commodities Exchange, operated by CME Group, remains extraordinarily high, the TF Metals Report's Craig Hemke writes at Sprott Money today.

Hemke writes that the Comex isn't breaking yet. But he concludes: "The CME Group and the London Bullion Market Association truly opened Pandora's Box when, in a desperate attempt to shore up confidence in their pricing scheme, they advertised and converted their Comex contracts into physical delivery vehicles following the events of March and April 2020. 

... Dispatch continues below ...


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"By doing so, the CME and LBMA very likely sealed the fate of their fraudulent pricing system, and the continued delivery demands of 2021 are maintaining the pressure and stress felt by the bullion banks in the 12 months since."

Hemke's analysis is headlined "Comex 'Delivery' Update" and it's posted at Sprott Money here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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