Uploaded December 2020 | Updated September 2026, 2 days ago
Filmed in Dec 2020
Join BullionStar's Ronan Manly for a deep dive into all things COMEX, with William Purpura, long time futures trader and Chairman of the COMEX Governors Committee. William and Ronan also discuss the London Bullion Market Association (LBMA), as well the importance of Dubai and China as gold centers.
0:00 Introduction
00:41 William’s career as a futures trader
02:48 The role of the COMEX Board of Governors
04:14 The function and benefits of futures markets
05:58 Physically settled vs cash-settled contracts
07:26 The triggers for COMEX metal inflows during 2020
09:51 Gold deliveries within the COMEX vaults, but lack of withdrawals
12:52 Eligible gold - A suitable metric to gauge tradeable inventory?
15:05 COMEX mass approval of LBMA Good Delivery Brands in July
17:11 Potential settlement of COMEX contracts in London vaults
19:52 Purpose of the COMEX ‘Enhanced Delivery’ 400 oz gold contract
22:40 COMEX and LBMA cooperation, EFP anomaly and arbitrage
25:35 Mechanics of warrant delivery between short and long on COMEX
29:07 Why vaults in New York apply to get COMEX approved
30:51 The LBMA and its recent attempts to influence major gold centers
35:27 Should the LBMA be the global authority for precious metals?
38:41 Dubai as a major gold hub, Opportunities, Growth and Competition
41:09 China's gold market: Derivatives, Physical, and Cross-Border flows
45:09 COMEX as a physical precious metal delivery center in 2021
Filmed in Dec 2020
Join BullionStar's Ronan Manly for a deep dive into all things COMEX, with William Purpura, long time futures trader and Chairman of the COMEX Governors Committee. William and Ronan also discuss the London Bullion Market Association (LBMA), as well the importance of Dubai and China as gold centers.
0:00 Introduction
00:41 William’s career as a futures trader
02:48 The role of the COMEX Board of Governors
04:14 The function and benefits of futures markets
05:58 Physically settled vs cash-settled contracts
07:26 The triggers for COMEX metal inflows during 2020
09:51 Gold deliveries within the COMEX vaults, but lack of withdrawals
12:52 Eligible gold - A suitable metric to gauge tradeable inventory?
15:05 COMEX mass approval of LBMA Good Delivery Brands in July
17:11 Potential settlement of COMEX contracts in London vaults
19:52 Purpose of the COMEX ‘Enhanced Delivery’ 400 oz gold contract
22:40 COMEX and LBMA cooperation, EFP anomaly and arbitrage
25:35 Mechanics of warrant delivery between short and long on COMEX
29:07 Why vaults in New York apply to get COMEX approved
30:51 The LBMA and its recent attempts to influence major gold centers
35:27 Should the LBMA be the global authority for precious metals?
38:41 Dubai as a major gold hub, Opportunities, Growth and Competition
41:09 China's gold market: Derivatives, Physical, and Cross-Border flows
45:09 COMEX as a physical precious metal delivery center in 2021
