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15/06/15
18:26
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Originally posted by timber1956
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"That is the story and the only story in Gold."
As stories go, it is slightly less plausible than "The Lion, the Witch and Wardrobe".
COMEX is a trading platform that matches buy and sell orders. It doesn't own any gold.
CME is a clearing house that settles payments on COMEX contracts and arranges physical delivery on outstanding contracts between buyers and sellers. It doesn't own any gold.
If COMEX-CME has a preference for the price of gold going up or down, it would be for the price to go up. This is because their fees are a proportion of settlement amounts and those settlement amounts increase with the price.
Read the minutes of the FOMC. Read the changes in the Fed balance sheet. The Fed don't care about the gold market at all.
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it must be nice to live in a World of fantasy where everyone believes everyone else's bullshit