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overtheedge
Member since May 2012
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Streamline fixing of gold price in India - Chris Powell - GATA

"... based on calls made to the members of the association twice a day that reveal the quantities and price at which members want to buy and sell gold. "

"It is time the Centre evolved an independent regulatory mechanism to determine gold prices and gold trading."

Yes sir, the last thing we want are buyers and sellers aka "the market" setting the price of gold.

Is this indicative of the stance GATA takes toward the Gold/PM market?
After all, isn't price fixing by a regulator just another form of manipulation?

Maybe this is kinda like a Coup d'Etat in some 3rd world country.
Perhaps starring GATA as the new dictator replacing the old dictator.

I always begin my thought trains with the simplest question, "Cui bono?". Who benefits?

Commented 3509 days ago

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Beginning of the headline :http://www.newindianexpress.com/editorials/Streamline-Fixing-of-Gold-Pri... As the curtain comes down on the century-old London gold fix, the spotlight is on the opaque and random manner in which Indian spot gold prices continue to be determined. Gold prices in London are now fixed by an independent provider, the ICE Benchmark Administration. The new system will ensure an audit trail that will make it easy for regulators to track the fixing process. The participating banks will bid through an o... Read More

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