Loading ...If you want to know why, David Jensen does a great job of describing the fix in London.
David Jensen: The London Metals Exchanges are the Crux of Market Pricing – YouTube
200 million ounces of paper gold contracts trade on computers in London every day set against 120 million of annual global gold production. This is how they keep prices contained – with the banks / funds / etc. trading back and forth with themselves on computers. No actual price discovery allowed.
They want to hang on to their grip on precious metals prices so that the fraud being perpetuated on the world continues.
Their days are numbered now.
Cheers