Key sentence and word.
Unlike copper, the gold and silver markets are manipulated/suppressed by selling contracts with no metal behind them. So every time gold or silver shoot up, they short the market with phantom contracts. When they are occasionally caught, they invoke the fine print, which says, in effect, "If we can't deliver, we'll pay you in cash."
That's why they can short a years production in 15 minutes in a "tamp down".
When the rulers are in trouble, change your shorts ..................
Headquartered in Hong Kong. Now under control of the CCP.
Are we insane in the West!!!.
London should be setting up it's own Metal Exchange, NOT owned by the CCP. Should have been done the day before China took control of Hong Kong.
Golly. Maybe this game is rigged.
What does this do to the Green fanatics? Seems hard to go to all electric if you don’t have copper.
Copper wire is used in power generation, power transmission, power distribution, telecommunications, electronics circuitry, and countless types of electrical equipment. Copper and its alloys are also used to make electrical contacts.
Take that and the European gas shortages we might be seeing the people realize the Green energy boondoggle is a pretty concept. But once it steals all of your green it isn’t such a good idea.
I noticed premiums for silver and gold seem pretty high.
One of my kids called and said he wanted some gold last week cause he thinks it is going to go up ?
I told him the 2 important things were the provenance and premium.
he ended up getting a Canadian maple for spot +45