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<p>[QUOTE=&quot;pmbug, post: 26082924, member: 36982&quot;]I believe that bullion banks in the USA are desperate to acquire physical gold and silver to cover a gaping hole in their bullion trading desk balance sheets as the &quot;short COMEX futures, long LBMA spot contract&quot; arbitrage trade has switched from profitable to very expensive (risk).&nbsp; The US bullion banks are hoovering up all the gold and silver globally that isn&#039;t nailed to the floor or already claimed by China/India.&nbsp; The LBMA is already defaulting on spot gold delivery obligations.&nbsp; I think the LBMA defaults on spot silver delivery within the next 3 months or so if current conditions persist (sooner if they accelerate).</p><p><br /></p><p>Bob Coleman did a good job of explaining what is happening:</p><p><br /></p><p><a href="https://threadreaderapp.com/thread/1891583167686914277.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://threadreaderapp.com/thread/1891583167686914277.html" rel="nofollow">https://threadreaderapp.com/thread/1891583167686914277.html</a></p><p><br /></p><p>With respect to loan rates:</p><p><br /></p><p><a href="https://www.goldpriceforecast.com/explanations/gold-lease-rate-glr/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.goldpriceforecast.com/explanations/gold-lease-rate-glr/" rel="nofollow">https://www.goldpriceforecast.com/explanations/gold-lease-rate-glr/</a>[/QUOTE]</p><p><br /></p>

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