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Comex doesn't reflect physical gold market, Swiss Asia Capital's Kiener says
2p ET Tuesday, July 3, 2018
Dear Friend of GATA and Gold:
Juerg Kiener, managing director of Swiss Asia Capital in Singapore, today calls the attention of Bloomberg News television to the transfer to London and presumably the resulting cash settlement of gold futures contracts from the New York Commodities Exchange. Using the "exchange for physicals" mechanism for settling gold contracts, Kiener says, the Comex fails to reflect the structure of the physical gold market, which is in backwardation.
The interview with Kiener is three minutes long and can be viewed at Bloomberg here:
https://www.bloomberg.com/news/videos/2018-07-03/swiss-asia-capital-s-ci...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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