Back in July I pondered
what happened to 110 tonnes of gold in one of the Hong Kong gold warehouses registered by CME for its kilo futures contract. The chart below updates the figures and shows that wherever the gold went, its is gone for good.
that get worked up about Comex “leverage” ratios should be interested in the fact that the Hong Kong warehouse report
only shows eligible stocks and has never shown any registered, which probably has something to do with the fact that the delivery notice report
shows no issues/stops for the kilo contract so far this year. Forget your 300:1 Comex “leverage” – that would put the OI/Registered Stocks ratio as divide by zero error, or in other words, the CME’s Hong Kong contract has infinite
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