GOLD MARKET Is BLOWING-UP! Huge PROBLEMS At COMEX, LBMA, New York, Canada, South Africa, London And Switzerland OH MY!

Is this the very moment we’ve all been waiting for?

(Silver Doctors Editors) Something big is happening in the gold & silver markets.

Yesterday we reported on the Royal Canadian Mint shutting down production, and just hours ago, we reported on mines shutting down in South Africa.

But wait, there’s more!

And it seems to be putting the cartel in quite the pickle.

Because not only are some big-time Swiss refiners not refining as James Anderson informs, but on top of all the current and ongoing physical market disruptions, spot gold versus futures spreads are blowing out:

And to think, if you listen to the so-called “analysts” out there in the mainstream, you’d think the only thing going on in the gold market was massive “selling” to “raise cash”.

For more of what’s really going on, James continues:

The problems in the physical market are global!

James concludes:

At this point, it should be completely obvious to even the most staunch gold & silver market manipulation denier that there is a total disconnect between the corrupt, fraudulent paper market and the real, physical market.

The Financial Times reports the LBMA is calling this disconnect a “liquidity” problem (bold added for emphasis):

The London Bullion Market Association said today that there had been some impact on liquidity arising from price volatility in Comex 100-ounce futures contracts.

“LBMA has offered its support to CME Group to facilitate physical delivery in New York and is working closely with Comex and other key stakeholders to ensure the efficient running of the global gold market,” it said.

Here’s what Chris Powell of the Gold Anti-Trust Action Committee (GATA) has to say about that:

 

Reacting to today’s Financial Times report acknowledging “liquidity” problems in gold at the New York Commodities Exchange —

http://gata.org/node/19985

— a Middle Eastern source who long has been intimately involved with the gold market says:

“Indeed, the spread between the nearby Comex gold futures contract and the OTC spot price widened to nearly $100 during this morning’s session. The April contract traded a high $1,682 at around 10 a.m. while its counterpart OTC spot price was languishing at $1,593.

“Demand for gold across multiple courses generally oscillates closely with the gold swap rate and is the playing field of market makers, bullion banks, physical arbitrageurs, and other knowledgeable participants. Today that mechanism of the market, which helps bring liquidity to the global gold market (either using futures to bring liquidity to the OTC market or its reverse trade) was fully broken as arbitrage opportunities were not fulfilled. …

“Are they losing control? The April 20 contract has five days of trading left and open interest is 20 million ounces. The numbers to be rolled over are huge.

“No cargo flights mean there are no physical gold transfers because, as the FT said, there are no bars available.

“The LBMA and Comex operator CME Group are trying to sort it out.”

This morning, we rhetorically asked, “has the cartel lost control?”:

Question is, what happens next if the gold & silver markets are blowing up?

Cash-settlement and a closing of the futures market?

The return to actual price discovery?

Developing…