The COMEX is becoming a paper only exchange. This is useless to anyone that must have (jewelers need gold, tech companies need silver) or those that want the actual commodity. The Shanghai exchange will probably take over because they will enforce forfillment of contracts under penalty of prison. It won’t be long before there is a substantial difference betwee paper gold contracts and the real thing.
It also seems that other countries are de-dollarizing. China, Russia BRICS nations etc aren’t trading in dollars; the petro-dollar is weakening. This would create demand for something else such as gold.
We also have a huge slide in the Yen because of massive money printing in a futile effort at debt monetization and to make Japanese exports more competitive. However, China, Korea, and other manufacturing nations will likely follow suit by devaluing their currencies in a race to the bottom. This creates quite a bit of instability and these countries might turn to gold for stability.
I AM SURE I AM RIGHT_____
That these nations have wanted their gold back for a while but the Federal Reserve Bank did not have it. It had been leased out or something similar.
So the NY Fed told them they will just have to wait and keep quiet about it. Wait until the PTB had jammed down the gold prices from $1900 to $1100. The Fed is now buying gold on the open markets and sending it to them.