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GoldCore's Jan Skoyles: Comex may be dissociating from London to bolster its solvency
8:22p ET Tuesday, March 18, 2025
Dear Friend of GATA and Gold:
GoldCore's Jan Skoyles today expresses skepticism about the routine explanation offered by CME Group for the termination of four monetary metals futures contracts on its New York Commodities Exchange, three of them linked to trading in London.
GATA reported the changes this morning:
https://www.gata.org/node/23713
With gold being moved hastily from London to New York amid indications of physical shortages in London, Skoyles wonders if the Comex isn't really trying to dissociate itself from the London market and bolster the solvency of the New York market.
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"The gold market is clearly signaling something important," Skoyles says. "Paper contracts might have been good enough in stable times, but those times seem to be fading quickly. ... If the smart money is busy ensuring they hold physical gold, investors who stick with paper promises risk being left empty-handed."
Skoyles' commentary is 12 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=JHZijrWlywc
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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