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$1,391.7 gold futures

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slange

10,226 Posts.

3831

18/04/16

18:41

Post #: 17535382
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Originally posted by timber1956 ↑

23

"The 10 ‘official’ market makers are ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China CITIC Bank, China Merchants Bank, Industrial Bank Co, Bank of Ningbo and ANZ (China)."

Ten banks. Four of them are owned by the Chinese government. No leading names in the world bullion market.

Forgive me if I'm not impressed.

I doubt if these guys will be able to do business without a liquid derivatives market to lay off the risk, so they will probably be using COMEX.

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There is a good reason there are no 'leading names in the world bullion market' and that is they are all corrupt.
I'm not surprised your not impressed.you weren't impressed with gold at 1100.
Why would you need derivatives in a physically backed market.
There is no risk
2 Upvote

0 Great analysis

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