2015-07-09 — marketwatch.com
New York and London have generally been the hubs for setting gold prices. But with "so little gold going through Comex in physical terms, this is a distortion of demand and supply as it only reflects the trading picture of speculators in New York," said Phillips. He noted that only 5% of contracts are delivered on Comex after notice has been given of this intention...
China "can promote trading in gold, with Chinese banks taking up stock and selling it to other buyers in yuan," Phillips said. Add that to a yuan gold "fix" price in Shanghai, expected before the end of the year and you will have a market "that is not distorted by the banks, their proprietary trading, or control of the gold distribution system globally."
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
