Quantum leap for banks as ABN AMRO questions gold price discovery

“There are two sets of gold markets – on the one side, the COMEX gold futures and London OTC unallocated gold spot markets which are both ultra-leveraged and which both create gold supply out of thin air, and on the other side, the physical gold markets which inherit the gold prices derived in these paper gold markets. Currently the physical gold markets have no effect on the international gold price.”

Quantum leap for banks as ABN AMRO questions gold price discovery