Has the collapse of paper gold begun?

[BullionBuyer]

Hi All.

Found this article on ABN Amro which is an interesting development in the gold market. does it mean that the collapse of the paper market has begun? Strange that it has come at a time when physical gold is difficult to come by in terms of the premiums being paid.  Would welcome any thoughts on this.

 

https://geotrendlines.com/abn-amro-abandons-gold-investors/

 

[MancunianStacker]

They may try to keep it going but who would buy the paper they were pushing now, having been forced out. 

[Oldun]

In two words....not yet.

[ilovesilverireallydo]

39 minutes ago, BullionBuyer said:

Hi All.

Found this article on ABN Amro which is an interesting development in the gold market. does it mean that the collapse of the paper market has begun? Strange that it has come at a time when physical gold is difficult to come by in terms of the premiums being paid.  Would welcome any thoughts on this.

 

https://geotrendlines.com/abn-amro-abandons-gold-investors/

 

I posted the original article on this yesterday. 
 

ABNAMRO used to offer real PM investment but the new laws and supplier makes it harder to fulfil delivery on request, it’s not paper gold at all.

[BullionBuyer]

30 minutes ago, ilovesilverireallydo said:

I posted the original article on this yesterday. 
 

ABNAMRO used to offer real PM investment but the new laws and supplier makes it harder to fulfil delivery on request, it’s not paper gold at all.

My apologies friend - I didn't see it or perhaps I missed it. Certainly not looking to steal your thunder!!!!!

[ilovesilverireallydo]

1 minute ago, BullionBuyer said:

My apologies friend - I didn't see it or perhaps I missed it. Certainly not looking to steal your thunder!!!!!

Not at all. Just clarifying the facts  

[5huggy]

Has the collapse of paper gold begun?

I think SO - the paper "squeeze" is here - right now

[Platinum]

I reckon so.

[Martlet]

If you read the detail behind the ABM Amro news, they haven't had a formal deal to provide delivery for a few years as their agreements lapsed. 

[5huggy]

Latest chart - I have NEVER seen so many "long TAILs" ! 😉 👍

[Abyss]

The futures Chart of Gold https://www.tradingview.com/chart/bAOA6AFL/

No crazy long tails

As to the question Has the collapse of paper gold begun?I don't know but if I could go back in time one week when spot $1450 and Chads still had physical gold I would driven down to Blackpool and bought 40 oz Gold and converted the remaining cash I am holding in the bank into physical Gold.

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