Loading ...… how much is eligible to be bought … and how much is already spoken for by previous leases (etc)?
How much is available?
Nobody knows for sure, but it makes sense that if the US is going to be using its gold reserves at some point in the future, and some of its gold has been leased out, some of the gold coming from the UK will need to be returned.
The question is how much?
The below chart shows that the answer to this question is likely ‘not much considering the big picture’ ;and, we cannot trust any of the data coming from ‘official sources’.
As of the end of February, it looks like eligible is roughly one third of the total 1800 tonnes. And another 600 tonnes more is still arriving.
So it will be interesting to see how all this shakes out in the end.
I think all we can do is watch how prices react to all this.
One thing is for sure … the UK has been severely depleted … that’s for sure … and it’s likely the weak point in the overall formula right now. Don’t be surprised if precious metals sales to the public are banned.
Then look for a short squeeze.
Cheers all