COMEX Gold Hits Record High Amid Premium

The London Bullion Market Association (LBMA) has confirmed that it is working with the CME Group and US authorities to address the significant premium of COMEX gold in relation to the London market. This premium, which has been building since the 2024 US presidential election, has seen US gold futures reach an all-time high of $2,853.20 per ounce, trading at over $50 above London spot prices that hit a record high of $2,798.24 an ounce.

The CME Group and US Commodity Futures Trading Commission have yet to comment on the matter. Despite this premium, London’s gold market stocks and liquidity remain robust. The LBMA emphasized that such premiums occur in markets worldwide, but its collaboration with relevant authorities aims to address the issue and promote fair trading practices.

Source: https://www.mining.com/web/lbma-liaising-with-cme-group-and-us-authorities-on-comex-gold-premium