The Phaserl


China To Establish Yuan-Denominated Gold Fix In Bid To Upend London Benchmark

from Zero Hedge:

A long time ago, in a financial galaxy far, far away, a “fringe” blog raised the topic of gold market manipulation during the London AM fix. Several years later (which, incidentally, is about average in terms of the lag time between when something is actually going on and when the mainstream financial media finally figures it out and reports on it), it was revealed that in fact, shenanigans were likely afoot and indeed, regulators are still trying to sort out what happened …

“China conducted trial runs for the planned launch of a yuan-denominated gold fix last month, in a sign the world’s second-biggest bullion consumer was moving closer to creating a benchmark price,” Reuters says, in yet another example of Beijing’s rapidly expanding global influence.

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2 comments to China To Establish Yuan-Denominated Gold Fix In Bid To Upend London Benchmark

  • CalSailX

    A real market… gee I might have to start looking at numbers to see if some of my prospects can make me money. Well maybe not quite yet 😉 I guess… I still hold out hope that one of these days we’ll have a free market.

  • CalSailX

    I’m old, but if the state of Michigan didn’t seem out to rape ever last nickle they can from their citizens I’d be willing to discuss were I think some of the major gold placers in the state are located. Someone is going to pull those samples one day… I’d love to see his face.

    If your a prospector you need to look at this land as it was, not as it is…

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