Nine years after fleeing in panic, the infamous Deutsche Bank is returning to the LBMA

In a brazen development reminiscent of a culprit returning to a crime scene, news has emerged that Germany’s infamous Deutsche Bank is planning to re-join the London Bullion Market Association (LBMA), exactly 9 year after having fled the London gold and silver markets.   According to Bloomberg in an article […]

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Has GLD been failing to disclose gold held at the Bank of England during 2022?

Readers of these pages will be familiar that in addition to holding its gold bars in a HSBC vault in London, the SPDR Gold Trust (GLD), the world’s largest gold-backed ETF, at times also holds some of its gold bars in the vaults of the ‘Bank of England’ in London. […]

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FTX Fiasco Highlights the Ponzi Nature of Modern Banking and the London Gold Market

The recent collapse of crypto exchange FTX and associated crypto trading firm Alemada Research has shell-shocked the financial world while wiping out the assets of FTX and Alameda customers and dragging down investments in the wider crypto space. It has also, in revealing a cesspit of corporate misconduct and fraud, […]

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Gold Establishment Supports Central Bank Secrecy instead of Exposing it

World Gold Council claims that central bank gold buying is at a record high. But when you look at the numbers, this claim cannot be verified. This week, the World Gold Council (WGC), which is a gold market development organization representing 32 of the world’s gold mining companies, published the […]

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COMEX Deliverable Silver far less than imagined as 50% of ‘Eligible’ is not Available

Back in April 2020 during the LBMA-COMEX gold crisis of 2020, when gold prices on COMEX diverged nearly $100 higher than gold prices in London, and the LBMA and CME (COMEX) rushed out multiple combined statements trying to assure the market about “healthy gold stocks in New York and London” […]

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London Silver Inventories Continue to Plummet as Metal Exits LBMA Vaults

There is an unprecedented situation emerging in London, where the relentless hemorrhaging of one of the world’s largest stockpiles of silver is now well and truly under way. For the last 9 months, this stockpile of silver, held in the LBMA vaults in London, has been consistently falling each and […]

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Eurasian alliance plans a Moscow World Standard to destroy LBMA’s monopoly in precious metals pricing

Towards the end of July, news emerged in the Russian media that Moscow and a number of its Eurasian allies are now reviewing a proposal to create an entirely new trading and pricing infrastructure for the international precious metals in order to both destroy London and New York’s monopoly over […]

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JP Morgan gold trading boss & former LBMA Board member found guilty by US jury

In a major embarrassment for banking giant JP Morgan and the London Bullion Market Association (LBMA), a federal jury in a US criminal trial has convicted Michael Nowak, global head of JP Morgan’s precious metals trading and former LBMA board member, on 13 counts of attempted price manipulation, commodities fraud, […]

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The new Indian International Bullion Exchange (IIBX) – Price Taker or Price Maker?

A new International Bullion Exchange (IIBX) has just been launched in Gujarat, India. But will it have an impact on gold price discovery? Read the full article by Roman Manly at https://www.bullionstar.com/blogs/ronan-manly/the-new-indian-international-bullion-exchange-iibx-price-taker-or-price-maker/ Powered by WPeMatico

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LBMA Silver Inventories fall to a near 6 Year Low below 1 billion ounces

One trend in the precious metals markets which has yet to get widespread coverage but deserves more attention is the plummeting inventories of physical silver in the London vaults of the London Bullion Market Association (LBMA). These LBMA vaults comprise vaults in and around London run by the bullion banks […]

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Despite manipulating precious metals prices, JP Morgan is still at the heart of the LBMA, SBMA and COMEX

With a group of former JP Morgan precious metals traders currently on criminal trial in front of a federal jury in Chicago, accused of engaging in a racketeering conspiracy involving precious metals price manipulation, commodities fraud and trade spoofing, while another group of their colleagues have already pleaded guilty, now […]

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Peter Hambro – BIS, central banks are rigging gold market using bullion banks’ paper gold

“Gold to central bankers is like the sun to vampires.” This week an intriguing and eye-opening article by the well-known Peter Hambro was published by British economics and politics news site Reaction. The article, which is titled “Don’t forget the golden rule: whoever has the gold makes the rules” is […]

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Russia lines up its State Fund of Precious Metals for Military Mobilization

Amid heightened tensions between Russia and Lithuania over access to Kaliningrad, Russia’s Ministry of Finance has this week published a draft bill to create a new ‘Reserve Fund’ of gold and precious metals within the existing State Fund of Russia (Gosfund). This Reserve can be used in the event that […]

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Czech Republic to join Visegrád Group allies in Central European Gold Rush

It was almost inevitable that the Czech Republic would buy more gold. With all of its regional neighbours having recently either repatriated large quantities of gold (Germany and Austria), or bought large quantities of gold (Poland and Hungary), it seems that the Czech Republic has now taken note and does […]

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Inside the Gold Vault of the Portuguese Central Bank – Ronan Manly

On Tuesday 17 May, the central bank of Portugal brought a group of Portuguese reporters and photographers on a visit to its gold vault located in a high security compound in a town called Carregado, about 30 minutes drive north-east of Portugal’s capital Lisbon. The Portuguese central bank, known as […]

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Lack of audits undermine Lebanon’s claim to be Middle East gold heavyweight

With claimed gold reserves of 286 tonnes, Lebanon’s central bank – Banque du Liban – trumpets itself as being one of the Middle East’s largest sovereign gold holders. In fact, on a regional basis, only the claimed gold reserves of Saudi Arabia are larger. Indeed, Banque du Liban governor Riad […]

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Kremlin confirms intention to Back Ruble with Gold and Commodities

On Tuesday 26 April in an interview with newspaper Rossiyskaya Gazeta (RG), the Secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities. The interview, which is in Russian, can be seen […]

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Where is the Russian Federation’s Gold Stored? – Ronan Manly

In the current environment of weaponised Western sanctions against Russia, and the critical importance of monetary gold reserves as Russia’s ultimate asset, a timely question to ask is where Russia’s gold reserves are actually stored. The location of Russia’s gold reserves is especially intriguing given the ongoing freeze of Russia’s […]

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China and Russia in Close Cooperation aiming for Win-Win in Gold Markets

In a development which the participants understood the importance of then, but which the wider financial markets may understand the importance of going forward, on 29 June 2021 the Shanghai Gold Exchange (SGE) hosted a China-Russia Precious Metals Webinar with Russia’s de facto precious metals authority the “Self-Regulatory Organisation ‘National […]

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Spotlight on Gold and Silver Mining Share Indexes – Part 1 – Ronan Manly

When glancing through news articles about precious metals prices, you will often come across references to the performance of various gold and silver mining stock indexes, as well as the exchange traded funds (ETFs) that are benchmarked against these indexes. While old timers will be familiar with the XAU and […]

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