Best news in years for PM physical pricing mechanism
Is the COMEX next?
New Basel 3 regulations will make it uneconomic for banks to continue to run bullion trading desks.
"Basel 3 is on course to regulate the LBMA out of existence. And with it will go all the associated arbitrage business and position-taking on Comex, because most bullion bank trading desks will cease to exist. The only supply to buy-side speculators of gold and silver contracts will be producer hedging."
"Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black