A fascinating article from the Financial Times on banks and the global gold fix
We would really like to get your comments on this topic. We will be bringing the topic up with our regular guests as the week progresses.
Click here to view the article.
If the link is not working search “Financial Times Gold: In search of a new standard”
Discussion
1 Comment
Apr 15, 2014 15:35 PM
I not a complete idiot as the bull run in gold off the 2000 lows was driven a lot by a devaluing US$ and many, many fundamental reasons.
But since it broke down from the Key support many in the gold community swore would not happen the $1525 area issues like Germany being told it will take 7 years to get their gold returned home, huge central bank buy of smaller nations, On Sale pricing creating Asian demand, so on and so on, it feels like the only buyers of gold are the shorts covering….where have all the real buyers gone, it will take a lot more than the shorts every now and then covering on data news, war worries etc ….gold needs fresh new LONGS!
Does one feel better owning an investment underwater knowing banks are going out of their way to cap the price, why did gold hit $1900 if its that easy to cap?
There is NO party with any authority that will enforce a fair market so it remains what it is a CASINO…..nothing more!