CME ANNOUNCES PLANS TO LAUNCH PHYSICALLY SETTLED ASIAN GOLD FUTURES EXCHANGE

While many precious metals blogs and investors have proclaimed an imminent COMEX default since 2008, we have long maintained that the COMEX is more likely to fade into irrelevance than to outright default on gold or silver bullion as physical Asian demand would facilitate the development of physical exchanges in the east.  
It appears that the CME decision makers have seen the light and agree with us, as Reuters reports this morning that the CME plans to launch a physically settled gold futures exchange…in Asia.

Click here for more on the CME’s plans to launch a physically settled gold exchanges in Asia:

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4 comments on “CME ANNOUNCES PLANS TO LAUNCH PHYSICALLY SETTLED ASIAN GOLD FUTURES EXCHANGE
  1. Bruce says:

    Those suits in the pic look like the biggest shonks you are likely to meet, yo. Scary stuff.

    Halloween should consist of suits and creepy smiles like this, but it would be too real for the masses, yo.

  2. Mini US says:

    Uh-oh, more Tungsten stories are on the way to discredit gold.

  3. Snooze says:

    At $1290, where are they going to get the gold from? New York and Chicago have the largest gold mines in the world.

  4. A. Paco Liptz says:

    Fools! All of you! By June 15th 2014 gold will be selling at $950 per ounce. Then A. Paco Liptz will finally buy some of the over-hyped junk to keep as a memento of the time when so many idiots actually put their faith in the stuff. Get ready to have your nuts crushed in the gold market, that is, if conniving clowns like Willie, Sinclair, etc. haven’t already castrated you.

    You will all be squealing in soprano when the governments and bullion banks finally execute their plan to crush gold.

    Chumps!

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