You are here

Harvey Organ: Doesn't Comex have gold for delivery anymore?

Section: Daily Dispatches

9:51a GMT Wednesday, November 29, 2017

Dear Friend of GATA and Gold:

Gold market analyst and GATA consultant Harvey Organ this week calls attention to the greatly increasing use of a supposedly "emergency" mechanism for delivering on gold futures contracts on the New York Commodities Exchange, "exchange for physicals," by which contracts to be delivered are transferred outside the exchange, apparently to the gold banking system in London. The implication of the increased use of EFPs, Organ writes, is that the Comex has no gold available for delivery.

Organ's observation comes with the text of letters he has written to the U.S. Commodity Futures Trading Commission about the emergency procedure, to which he has not received any response.

Organ's commentary is headlined "Nov 28-B Letter to the CFTC" and it's posted at his internet site here:

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


Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: