Persson and Manly: What sets the gold price -- the paper market or the physical one?

Section:

9:40a Thursday, March 30, 2017

Dear Friend of GATA and Gold:

Bullion Star's Torgny Persson and Ronan Manly today scan the world's gold markets and conclude that mere paper trading, not the physical exchange of gold, continues to determine prices, though they conceive of circumstances whereby physical exchange eventually might influence prices. Persson and Manly note that "ultra-secretive" gold lending by central banks to bullion banks is crucial to the current price-setting process and the entire fractional-reserve gold banking system.

Their analysis is headlined "What Sets the Gold Price -- Is It the Paper Market or Physical Market?" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/bullionstar/what-sets-the-gold-price-i...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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