Ahead of December COMEX Deliveries

• Ahead of December COMEX Deliveries
  by Craig Hemke, https://www.sprottmoney.com/
  The year 2020 will be remembered for many things, not many of them good. However, we will also recall 2020 as the year the LBMA/COMEX consortium nearly failed, and then since that event in late March, it has also been the year when the CME Group, in a desperate attempt to maintain the legitimacy of their price discovery scheme, was forced to convert their COMEX into a physical delivery vehicle.
  –
  It seems that we’ve written about this almost monthly since all the changes began back in April. Here’s just one link with details, but I encourage you to search the Sprott Money site for more articles on the subject from some of their other authors, as well.
  –
  This year’s surging and record amount of what is alleged to be “physical delivery” off of the COMEX has been well-documented, too. So as we head into the final (and typically busiest) “delivery month” of the year, I thought you might find it helpful to have some historical data to which you can compare the December numbers as we go through the month.
  ….
  2015-2019: Total deliveries were 208,616 COMEX gold contracts. That’s an average of 41,723 per year and a grand total of 648.86 metric tonnes of gold allegedly delivered.
  …
  Your key takeaway? A year-to-date total of 215,114 deliveries means that the depositories of the COMEX have been forced to deliver more gold in the first eleven months of 2020 than they had in the entire five-year period 2015-2019.
  –
  And now the final delivery month of December looms, and it is typically the busiest “delivery month” of the calendar year.
  –
  read more.

end