Quarterly report pursuant to Section 13 or 15(d)

Receivables

v3.21.2
Receivables
3 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Receivables

4. RECEIVABLES

Receivables consist of the following as of September 30, 2021 and June 30, 2021:

 

in thousands

 

 

 

 

 

 

 

 

 

 

September 30,

2021

 

 

June 30,

2021

 

Customer trade receivables

 

$

84,615

 

 

$

12,197

 

Wholesale trade advances

 

 

17,047

 

 

 

26,959

 

Due from brokers

 

 

2,860

 

 

 

49,844

 

 

 

$

104,522

 

 

$

89,000

 

 

 

Customer Trade Receivables. Customer trade receivables represent short-term, non-interest bearing amounts due from precious metal sales, advances related to financing products, and other secured interests in assets of the customer.

Wholesale Trade Advances. Wholesale trade advances represent advances of various bullion products and cash advances for purchase commitments of precious metal inventory. Typically, these advances are unsecured, short-term, and non-interest bearing, and are made to wholesale metals dealers and government mints.

Due from Brokers. Due from brokers principally consists of the margin requirements held at brokers related to open futures contracts. (See Note 11.)