Am not a gold bug, nor a GATA follower, but enjoy the conspiracy...

Am not a gold bug, nor a GATA follower, but enjoy the conspiracy theories.

The real gold game has always been London through the clearing house-that is where pricing for all gold lending for project finance is set, and that is where the physical delivery prices are consummated.

Is COMEX relevent? Only if you like flinging around option strategies, shorts, and any other form of convaluted (?) derivative the now disgraced US merchant banks can invent. In dollar terms as to the amount traded it is massive, but it still is a bit player to the real world of physical delivery.

A similar argument applies to base metals where the 'real' market is the LME. Not the petrol heads in Chicago!LOL

One thing that always gets me, ( well not necessarily one thing), is that physical production has not satisfied physical demand on an annualised basis for many years now. Doesn't anyone explain to the economists at the various central banks you can strangle the market?LOL

Cheers,TAS