With all the attention and ink being spilled over the COMEX gold warehouse inventory levels, there’s naturally a lot of questions being asked about how the system actually works. Eligible gold? Registered gold? What’s this all about?
Here’s a great article on Business Insider from Miguel Perez-Santalla that walks the reader through the process of how gold enters and leaves the COMEX system in a clear “explain it like I’m five” manner.
For instance, I learned that gold must be refined at a COMEX-approved refiner and transported by a COMEX-approved company, or it has to be sent back and resmelted.
Take a look, you might learn something new too!