By Cyrille Jubert
GoldBroker, London
Monday, July 14, 2025
Remember the cycles of the mining industry.
For multiple reasons,the price of extracted ore tends to fall, particularly due to competition. Thus, as a mine is operated, the metal content generally decreases, reducing its profitability until the company decides to close it. There are therefore periods during which the extraction of a particular metal is no longer profitable, leading to a sharp drop in production, and then, gradually, a shortage.
... Dispatch continues below ...
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For precious metals, to mask the erosion of the purchasing power of currencies, prices were long tightly regulated, first by specialized administrations, then by groups of central banks, such as the London Gold Pool until 1968. Subsequently, a banking cartel continued to manipulate the prices of gold and silver through various means. Among these, Comex futures contracts were a major tool, allowing traders to trade huge volumes of metals without ever demanding delivery.
Since 2004 this cartel has been implementing exchange-traded funds, allowing anyone to buy shares with a simple click, giving investors the false impression of acquiring gold or silver without having to worry about custody or insurance.
But this was merely an illusion. In reality the investor's cash flow wasn't necessarily used to acquire physical metal; it could even be used, depending on the cartel's interests, to bet against the rise of gold or silver.
This type of financial product is collectively referred to as "paper gold" or "paper silver." These substitutes have grown so widespread that, according to the U.S. Debt Clock, there are approximately 134 ounces of paper gold for every ounce of physical gold, and 364 ounces of paper silver for every ounce of physical silver. ...
... For the remainder of the analysis:
https://goldbroker.com/news/china-revaluation-precious-metals-3565 [3]
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