HKMEX to Cease Trading, Will Close Out & Cash Settle Open Contracts Monday!
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
silverdoctors.com / By The Doc / May 18, 2013
When the Rothchild’s HKMEx was launched in 2011, much of the metals community assumed that the COMEX & LBMA, were they not to outright default, would fade into irrelevance with the advent of the new Asian metals exchange.
Two years after the exchange’s launch however, in perhaps the most glaring evidence of physical gold & silver shortage to date, the HKMEx has announced it will voluntarily cease trading, and all open positions will be closed out and financially (cash) settled on Monday 5/20!
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2013/05/18/hkmex-to-cease-trading-will-close-out-cash-settle-open-contracts-monday/
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Whistler Blowers, Insiders
my own opinion is that they tried to bridge a gap between paper and physical —and both markets already exist. there was no interest in these contracts is why they stopped. It’s just another disinformation article.
These articles actually hurt the market. Truth is always better than fiction, and this one is fiction.
Gold and silver may be tight in supply, but its not why this exchange closed. Too bad articles have to be weeded out.
Of course what else would one expect from a website that sells the product.