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The Turkish people abandon the lira for the US dollar as gold and silver fall - Jeffrey Christian

Commentaries & Views

CPM discusses the sharp decline in the Turkish lira, the Turkish central bank’s policies toward gold, the dollar, euro, and lira, and what it all means for gold. The video then discusses how gold and silver fared on Friday as the Omicron variant news hit other financial markets, and what CPM expects next. CPM clarified that metal held by ETFs in allocated accounts in Comex-registered depositories is not hypothecated or encumbered, explaining what it means for metal, or other assets, to be hypothecated or encumbered. Metal held in allocated deposits is owned by the owner. If metal is hypothecated or encumbered, the owner has used the metal as collateral with a second party, loaned it to a second party, or used it in some other transaction. Most ETFs’ charters prohibit encumbering their allocated metal holdings in any such way.

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