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But Pierre Lassonde and Doug Casey say central banks don't care about gold!
So why are they being invited to help devise the new gold-pricing mechanism?
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Century-Old London Gold Price Benchmark Starts Makeover
By Clara Denina
Thursday, September 4, 2014
LONDON -- The operator of the London gold price benchmark said on Thursday it formally started the process to find a new administrator for the century-old mechanism that will halt the telephone call that four institutions enter twice a day in favour of an electronic solution.
The London Gold Market Fixing Ltd (LGMFL), along with the London Bullion Market Association (LBMA), said in a statement that the choice will be announced in October, and implementation will be complete by the end of 2014. ...
As it happened for silver, the LBMA is again launching a consultation among market participants, including central banks, miners, and refiners, to assess how they would like the new price mechanism to be derived. ...
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