Perth Mint in the news

Discussion in 'Gold' started by Shaddam IV, Apr 28, 2020.

  1. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I know that Zerohedge is not everyone’s cup of tea but this gold article is worth a read....

    https://www.zerohedge.com/markets/p...-crimean-conflict-congressman-questions-comex


    The gold market remains chaotic with physical (geographical) shortages, increasing physical demand, paper squeezes, retail interest soaring, and now congressmen raising concerns with regulators.

    First some good news (ish) - The last few weeks have seen the huge premium for between COMEX futures and spot compress as Bloomberg reports that Australia’s largest gold refinery has ramped up production of one kilogram bars to ease the supply squeeze in the US.

    “We’re producing as many kilobars as we can, we’re probably churning out seven and a half tons of them a week at the moment and we are forward sold well into May,” Richard Hayes, chief executive officer of the Perth Mint, said in an interview.

    “A very large portion of those kilobars are ending up as Comex deliveries.”
     
    silverhair, Holdfast and 66rounds like this.

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