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

CPM Group

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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.

By CPM Group

Contributing to kitco.com

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.