I searched using Chat GPT and here is their answer:
“There are recent stories about Singapore’s ambition to become a major gold/precious-metals hub and about growing demand/trading activity in Asia. But none of those stories provide evidence that JPMorgan has relocated its gold desk to Singapore. So the claim — as something ‘recent and confirmed’ — remains unsupported by credible sources.“
So, I would be skeptical about this story.
So, I would be skeptical about this story.
The western PM entities, ( Comex and LBMA) are known beyond doubt corrupt....JPMorgan has been fined much $$$$ five times for PM manipulation....the best part? For their corruption, their vaults are being drained dry....once they fail to deliver, they will lose $$$$ billions on their massive paper shorts.
That said, the Chinese SGE does NOT allow paper contract trading. Participants must hold physical to participate, backing up their short and long positions.
It would be a hoot if Silver brings the major banks down! Remember Bear Stearns?