The gold will be held atJ.P. Morgan Chase & Co.'s/quotes/comstock/13*!jpm/quotes/nls/jpmbank in London.[extremely suspicious]
My reaction:I view this new CME policy as an act of desperation. The decision to “allow physical gold to be used as collateral for margin requirements on all exchange products”, against a backdrop of record prices and widespread abnormalities in gold markets, screams that something is wrong. This policy would never have been implemented unless JPMorgan really, really needed gold.
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