The Phaserl


LBMA Admits Gold Market Can’t Be Transparent with Central Banks in It

by Chris Powell, GATA:

Dear Friend of GATA and Gold:

Central bank involvement may prevent the London gold market from ever becoming really transparent, the chief executive of the London Bullion Market Association has told a Bank of England study group.

The LBMA chief executive, Ruth Crowell, made the assertion in a long statement dated January 30 and sent to the bank’s “Fair and Effective Market Review” committee, which is studying regulation of the currency and commodity markets. The LBMA statement was found on the bank’s Internet site by gold researcher and GATA consultant Ronan Manly.

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