Sneaky COMEX Rule Changes
Jul 24, 2020
3 minutes
By Patrick A. Heller
The COMEX began trading gold futures contracts shortly after it was again legal for Americans to own gold at the beginning of 1975. An explicit purpose for setting up this gold exchange was to help manage the price of gold.
By the fall of 1976, the price of gold had been pushed down from close to $200 per ounce to just over $100. As most readers know, gold then went on a tear, eventually peaking over $800 in January 1980.
Over the decades, the
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