The price of gold has been managed via the paper futures market for ages by certain NY banks. Russia and China have had enough of US behaviour and the $US, fiat money scam, and are positioning their currencies as trade currencies backed by gold. Both have been big buyers for this reason in recent years. Iran now will now not accept $US for oil. Russia for example has a big annual budget for gold purchases, as well as being a big gold producer itself. The lower the price of gold the more it will buy. China is keeping its cards very close to its chest, but has stopped buying US treasuries. More countries including Australia, Iran, Russia etc will accept Yuan in payment for exports, without any involvement of $US.
WGX Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
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