Can someone explain this JP Morgan thing to me?

[The Original Happy Goat]

What, are they hoarding gold or something? @JamieDimonsBalls

 

[Joe_Hoopsier]

Explaining it is the easy part. The rest is up to you. Good luck.

 

[JamieDimonsBalls]

What, are they hoarding gold or something? @JamieDimonsBalls

No, they are just the broker for derivatives and hedges. I think the massive amount of speculation in gold, among other commodities, is the biggest reason for such a high physical delivery.

JPMorgan plans $4 billion US gold delivery amid tariff fears

The delivery notices — which total 30 million troy ounces of gold — were the second largest ever in bourse data going back to 1994.

fortune.com

 

[The Original Happy Goat]

No, they are just the broker for derivatives and hedges. I think the massive amount of speculation in gold, among other commodities, is the biggest reason for such a high physical delivery.

JPMorgan plans $4 billion US gold delivery amid tariff fears

The delivery notices — which total 30 million troy ounces of gold — were the second largest ever in bourse data going back to 1994.

fortune.com

I appreciate your effort, but you'll forgive me I hope if it still sounds like alchemy. I have no idea what any of this means.