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Showing posts with label London gold fix. Show all posts
Showing posts with label London gold fix. Show all posts

Thursday, May 25, 2017

Cracks in the West's control over gold pricing widen as banks flee the LBMA out of fear they have no more gold

The London gold price benchmark has been a fixture in the global markets for well over 100 years, but several key events over the past few have put it and the LBMA's control over determining the price of precious metals at risk.

And this breakdown appears to be accelerating as in the past two months, four banks have left the coalition that determines the twice daily price, the entity that facilitated the benchmark auctions broke their contract with the LBMA two years early, and rumors that the exchange may be virtually out of gold are getting stronger every day.

London's gold benchmark experienced large, unpredictable fluctuations after some banks left the auction that sets the price relied upon by the $5 trillion-a-year bullion market, according to a Reuters analysis of trading data. 
The benchmark is meant to be a fair and accurate daily snapshot of the fast-moving "spot" market and is used by gold producers and consumers around the world to price contracts. 
Its level is set by the London Bullion Market Association (LBMA) Gold Price auction, which sees big banks and brokers electronically input their trading orders, with an algorithm matching buyers to sellers and setting the price. 
But trading volumes fell sharply after April 10, when four of the 14 participating banks and brokers stopped taking part after the auction's administrator, Intercontinental Exchange (ICE), introduced a requirement to clear that meant participants had to modify their own IT systems and procedures. - Reuters
Information on the lack of physical gold backstopping the LBMA
Other than the paltry 5-7 tonnes of physical transacted on a big day in London, there is zero physical for sale of any size at current prices. However, there is strong physical buying, and competing central banks and sovereigns have learned to game the paper markets and are locking in spot gold and seeking delivery. This cannot last long. - King World News
This lack of supply coupled with a large number of bullion banks leaving the LBMA are in large part why we saw the historic and unprecedented beatdown of gold and silver prices starting in late April and commencing through the middle of May.  It is their recognition that the entire process could collapse because the curtain is being thrown open to the market's ponzi scheme that these banks desperately needed to cover their massive naked short contracts before revelations of zero liquidity cause the price to skyrocket in the future.

Thursday, May 4, 2017

Gold price divergence between London and Shanghai climbs to $28 following continued beatdown in paper markets

With economic and geo-political events allowing for the West to continue to beatdown the gold price in the paper markets over the past four weeks, the divergence in price between the London daily gold fix and the Shanghai Gold Exchange has risen to over $28 in just the past few days.

In fact just two weeks ago on April 21, the difference in price between the two markets was just $8.

Shanghai Gold Fix:


London Gold Fix:


Wednesday, April 12, 2017

Did the CME ditch the London Gold Fix to instead start its own gold blockchain trading platform?

About a month ago, the CME Group along with Thompson-Reuters ended their contract early with the LBMA in which they ran the daily benchmark auctions to fix gold prices in the Western markets.  And while there has been speculation as to why they chose to summarily leave their five year contract with the LBMA two years early, there have been few evidenced reasons for their cutting ties with the daily gold fix.

Until now?

On April 12 the Chicago Mercantile Exchange (CME Group) announced they were in the final stages of testing for a new gold trading platform that will run using Blockchain technology, and will open up the buying and selling of paper (digital) gold that is reportedly backstopped using physical gold from the British Royal Mint.

Image result for digital gold tokens
Model using Digital Gold Tokens in lieu of physical gold
Pretty soon, pension funds and other institutional traders will be able to buy and sell gold using a trading platform inspired by the digital currency bitcoin. 
U.S. futures and options exchange CME Group announced on Tuesday that it is in the final stages of testing a platform for spot gold that’s based on the blockchain, the pioneering distributed-ledger technology that powers the bitcoin network.
CME built the platform in partnership with the U.K. Royal Mint, which has helped supply $1 billion in gold bullion to back transactions executed on the network, and blockchain company AlphaPoint. 
The platform isn’t expected to launch until later this year, according to news releases from the CME Group and AlphaPoint. 
Physical gold will be represented on the platform by tokens called RMGs—short for Royal Mint Gold. The platform is the first digital gold product targeted at institutional investors, and its also the first to work with a government entity, according to the releases. - Marketwatch

Thursday, December 1, 2016

The difference between London paper price and Shanghai physical price now expanded to $32

As the dollar continues to stay above 101 on the index, the spot price of gold continues to get crushed in the Western paper markets.  In fact, ever since Nov. 9 when Donald Trump was declared to become the next President of the United States, gold has fallen over $200 despite increased demand in places like India, Russia, and Vietnam.

But starting back in April, London was no longer the only entity setting a daily price 'fix' for gold as the Shanghai Gold Exchange officially began its own price fix earlier this year to manage the trading of the precious metal during periods when both Europe and the U.S. were closed.

And for the rest of spring and well into summer, the spread between the two markets stayed relatively the same, with the London fix and the Shanghai fix only diverging by perhaps a dollar or two on any given day.  But over the past three weeks this has now changed as the spread between the Western paper market and the Eastern physical one has climbed to a massive $32 difference in the fix price.




Shanghai PM Gold Fix - Dec. 1, 2016


London AM Gold Fix - Dec. 1, 2016


As you can see from the price, the spread has now reached just under $32 per ounce difference.

If the spread continues to widen even further then it will open up two potentially lethal events for the LBMA and the COMEX.  First, it will cause miners who normally sell their gold production through these commodity exchanges to instead find it much more profitable to ship their metal to China and sell it on the SGE.  And secondly, the potential for a massive arbitrage will come into play where one or more big investors will buy up all the gold futures contracts and demand physical delivery at the lower paper price, which they will then sell their gold over in China and pocket the difference as profit.

For decades now the Western gold futures markets have been a vehicle in which central banks and the U.S. Treasury have manipulated gold prices in a scheme used to protect the dollar, especially during this era of massive money printing and zero percent interest rates.  But now that China has taken over as the world's largest physical gold market, more and more they are coming to set their own price for the metal, and it should not be too long before they officially wrest that authority away from both London and New York.

Saturday, October 22, 2016

Gold price difference out of China now up to $5 more than in London or Comex

On Oct. 18 the spread in gold price between the Shanghai Gold Exchange (SGE) and the London/Comex gold fix was a record $5 as the Eastern physical markets continue to ever so slowly pull away from the Western paper gold markets.

The SGE is the largest physical gold market in the world, and commenced declaration of its own gold price back in April of this year.  And over the course of 2016 they have intermittently increased the spread between themselves and the purely paper markets run out of London and New York.

Shanghai Gold Exchange fix times: 10:15pm est and 2:15am est 
London gold fix times: is at 5:30am est and 10am est 
Shanghai morning fix OCT 18 (10:15 pm est last night):  $1276.80 
NY ACCESS PRICE:   $1271.50 (AT THE EXACT SAME TIME) 
Shanghai afternoon fix:  2: 15am est:  $1274.31 
NY ACCESS PRICE:   $1269.70 (AT THE EXACT SAME TIME) 
Spread between each market at both fix times:  $5 difference - Silver Doctors
As this difference in price continues to expand, it will eventually create an price evaluation where gold miners will stop selling their products to the Comex or LBMA, and find it more affordable and profitable to ship their gold to Chinese markets..  Likewise, it will also eventually lead to an arbitrage where traders will buy all the gold up in both London and New York, and then sell it to Shanghai causing an asset flight from West to East.

Sunday, July 24, 2016

Yes Virginia, central banks do manipulate gold prices according to new White Paper

Despite having overwhelming data that the price of gold is manipulated in both the Comex paper markets, and through an elite body of people at the London Gold Fix, economists and central bankers have continuously lied about their involvement in depressing gold as a means to protect their currencies and prop up derivative markets.

But on July 20, a White Paper published by Dirk G. Bauer at the University of Australia School of Business was revised to show just how much central banks use gold price manipulation and the gold carry trade to protect their paper fiat currencies, and keep their managed systems from imploding due to normal market forces.

Central banks hold gold reserves that are designed to build confidence in fiat currency. This confidence is undermined if the price of gold falls significantly or rises significantly. Central banks thus have an incentive to manage the price of gold. Such management is evident in fixed gold prices in the early 20th century, in Central Bank Gold Agreements more recently and in the asymmetric correlation between monthly central bank gold reserve changes and gold price changes. The empirical analysis further analyzes gold lending by central banks, linkages between central banks, bullion banks and mining companies and the gold carry trade. We conclude that coordinated and shadowy gold operations by central banks are necessary for successful gold price and gold reserves management and demonstrate the power of market forces relative to central banks. - SSRN
There are no such things are markets anymore, only interventions.

Tuesday, June 14, 2016

Potential for gold shortages expanding as miners decide to hold 20-30% of output off the markets

Besides the historic accumulation of gold by countries such as Russia, China, and India over the past four years, and increased speculation in the precious metal by billionaires and well known hedge fund managers, there is another element to add the to the mix that could soon be tightening supplies and driving up prices.

In an interview with SGTReport on June 12, the CFO of MX Gold Corp is joining in with others in the mining industry to hold back between 20 and 30% of their gold output from the market, and stockpile it until prices rise to a more equitable fair value in or out of the Comex.

For years, the Commodities Exchange (Comex) and the London Gold Fix have manipulated and suppressed prices in order to protect paper currencies in the U.S. and Europe, and this has led to an environment where it actually costs mining operations more to take it out of the ground than the price they receive from mints or refiners.

MX Gold Corp CEO Akash Patel and CFO Kenneth Phillippe say that they are positioning their company to stockpile between 20% to 30% of their physical gold production in coming months, noting that prices are nowhere near where they should be at current supply and demand levels. In an interview with SGT Report, Phillipe appears to be taking the stance of many precious metals investors, which is to stockpile the physical asset in anticipation of any number of potentially cataclysmic economic and monetary events like the hyperinflation we are witnessing in Venezuela. 
We want to pull out the physical gold… We want to take this gold and we want to store it. We believe that having the physical gold in the vault makes a lot more sense than selling it at these prices. Gold is ready to move. We believe it’s going to continue to rise… we’re going to be storing our gold and holding it for the long-term. - Shtfplan.com

Wednesday, May 4, 2016

Gold buyers still ignorant of physical market as traders pile into S&P; paper gold at record levels

When a paradigm belief is strong, very little will ever change the minds of those held within its thrall.  And a great example of this is how U.S. and Western investors continue to trust in paper assets rather than trading in physical commodities that have real tangible value.

Last month the Shanghai Gold Exchange ushered in a new era for gold by declaring the first new price discovery mechanism in over 100 years.  And while the SGE established itself upon a foundation of physical gold, record numbers of investors in the West continue to buy paper gold through stock market ETF's rather than buying physical gold which they can be sure is in their hands, and not under the authority of known criminals and convicted manipulators.


Investors are piling back into gold, and they're coming in droves. 
Holdings in SPDR Gold Shares, the world's largest exchange-traded fund backed by gold, surged 20.8 metric tons on Monday, the biggest one-day expansion since 2011, data compiled by Bloomberg show. 
About $7.1 billion in new money poured into SPDR Gold this year, the most of any ETF tracked by Bloomberg around the world, as holdings soared to the highest since 2013. - Salt Lake Tribune
Perhaps the most substantial difference between paper gold owners, and those who own physical gold, is that they choose to ignore the incredible manipulation that takes place by the bullion banks in the paper gold market.  In fact, last month Deutsche Bank publicly announced they were guilty of manipulating gold prices through the London Gold Fix, and the U.S. Comex has little actual gold, with more than 500 paper contract demands tied to every individual ounce of gold held in their vaults.

Which means that investors own meaningless paper, and simply a promise to deliver gold, rather than actual gold itself.

Gold: If you don't hold it, you don't own it.

Friday, April 15, 2016

When the SGE declares its own gold price next week, the arbitrage battle for gold really begins

April 19 is the expected day the Shanghai Gold Exchange (SGE) is to declare its own Yuan denominated gold price in the world's largest physical gold market, and we are now less than four days away from what could be a radical sea change in the entire precious metals industry.

This is because no one yet knows at what price the SGE is expected to open with next week, but since the market currently marks up gold sales with as much as a 40% premium already, chances are extremely good that it will be much higher than the price long controlled by London and the U.S. Comex.

And should this truly be the case, where China announces a price that is greater than the Spot price determined in Western markets, then part one of China's gambit will be revealed, and it involves an arbitrage scheme meant to entice a shifting of all metals Eastward, using the greed of the West to accomplish this.

An arbitrage is when one market buys or sells an asset at a much different price than another market, allowing customers and investors the chance to skim profits from the difference between the two prices.  And an example of this would be if the SGE offered a buy price of say $1600 in U.S. dollar equivalent, where the current Comex spot price is $1235.  This difference in price would trigger a run on the Comex, where investors would try to buy up all available gold contracts, demand delivery, and then sell it to the SGE and collect the difference in profit.  The result of course is that the West would suddenly be drained of all their gold, and now China would have sole control over the global gold market.

Analyst Dr. Jim Willie also spelled this out in an interview he did earlier this week.

The Chinese attack within the Gold market could hit Satanist bankers where they live, in the fire of mid-April.... The arrival of the Gold futures contract in Shanghai poses an additional risk for the Western banker cabal, a grand crime syndicate which extends to the energy firms, the military industrial complex, the big pharmaceutical firms, and the press networks. 
A real valid bonafide Gold contract which delivers physical gold would enable vast arbitrage to buy cheap in London and sell dear in China. Any acceleration in the arbitrage activity, combined with any sincere attempt to set the Gold Fix in a reasonable manner that puts equilibrium as priority, and the Western bankers will face the USDollar kicked to the curb and possible global boycott. - Rogue Money
It is no coincidence that one time London Gold Fix committee member Deutsche Bank came out yesterday and admitted to the fraud and manipulation that has long taken place in the Western gold markets, and these revelations will provide China a strong boost for their new pricing mechanism if/when it comes out next week.  And besides just investors rushing to leave the Comex and begin participating in the SGE, a more important group of metal players will just as likely do the same, and they are the miners and refiners of gold and silver who will gladly take their production and move East to finally get a price worthy of their output.

Wednesday, February 24, 2016

Watch for gold to spike upwards this weekend as India may remove import duties on the precious metal

By a long shot, India is and has been one of the largest gold buyers and collectors in the world.  But over the past two years government officials have slowed down their purchasing through a series of draconian duties on gold imports that have driven the population to change course and accumulate silver at record levels.

This weekend however may change this course once again as it is expected that the import tariffs that suffocated the flow of gold into the markets will be removed, causing the potential for a $50 spike in gold to over $1300 in the short term, and a medium term price rise to over $1400.
All lights for gold are green, and rather than beginning a correction, gold may be poised to intensify its rally. 
Investors with widely differing views on gold all seem to be pressing their buy buttons at the same time. That’s something that has not happened in a long time. The bottom line is this: 
Key bank economists are forecasting a new upcycle for commodities, which will begin later this year, India may cut the import duty on Sunday night (February 28), Shanghai prepares to launch its gold price fix, gold ETFs are adding serious tonnage, the chartists are happy, and most discussion of US interest rate policy (whether hawkish or dovish) is bullish for gold. - Silver Doctors
In addition to this, all eyes in the precious metal world are focusing on April when China's physical gold market, the Shanghai Gold Exchange, is expected to begin pricing gold in Yuan rather than dollars, and setting in motion the end of U.S. and London hegemony over determination of gold prices.



Wednesday, December 30, 2015

Canadian investors file a class action lawsuit against the London Gold fix banks for manipulation

Libor, Forex, money laundering for cartels, equities… what do all these have in common?  They are markets that banks and brokers were allowed to manipulate until it became public knowledge that fraud and corruption were taking place.
And with everyone and their brother knowing that gold markets and prices have been manipulated for decades, a new class action lawsuit filed by two Canadian investors through three Canadian law firms is trying to blow the whistle on one of the most egregious scams going on in the gold markets today.
In a suit filed on Dec. 22 against several banks involved in the London Gold Fix, lawyers from three firms are seeking $1.1 billion in restitution for losses taken by the manipulation of gold contracts and markets.

Read more on this article here...

Monday, November 9, 2015

Got Karatbars? We could be less than a month away from China taking control over the global gold price

Back in June of this year, the newly created Shanghai Gold Exchange (SGE) announced plans to establish their own gold price between now and the end of the year.  And with the SGE being the only true physical gold market currently operating where customers buy and sell gold for cash based on an actual price, it would be only natural that China earns the right for price discovery over the London and Comex facilities who only deal in paper gold contracts.

Yet even this is just the beginning of a full fledged shift away from Western control over all facets of the monetary system, and a return to sound money where currencies are backed by gold in some capacity.  The rise of the Yuan as a global medium for trade is accelerating at tremendous rates, and their accumulation of what some believe to be 30,000 tons or more of gold will only solidify the belief that once the dollar's power is broken, then the world will rush back to a gold based system.
On June 25, a representative from the Shanghai Gold Exchange announced that they are planning on establishing a new physical gold price mechanism by the end of the year that will compete with London and the U.S. Comex. Expected to be denominated in Yuan, this new gold price platform comes less than 10 days after China became the first Asian country invited to be a part of the London gold fix, and unlike the U.S. Comex, will deal in direct physical gold sales rather than in paper futures and derivative contracts.  
When the Shanghai Gold Exchange (SGE) opened in 2014, it set out to usurp the West's control over gold and their pricing of gold through the paper markets. And in less than a year, the SGE has created the world's largest gold fund, and is now ready to take over pricing and price discovery for the monetary metal. In fact, sources claim that right now premiums on large sales of gold bullion are ranging as high as $600 over the current paper spot price. - Examiner

For more than 40 years the world has experimented with a purely fiat form of money, backed by nothing except government confidence, and military might.  But the problem is and has always been the fiduciary irresponsibility of government's to control their monetary supplies, and as we saw just recently from U.S. Treasury Secretary Jack Lew, Washington cannot function and would collapse if they do not have the power to borrow more and more money, and increase the debt load to just under $20 trillion by the middle of 2017.

“At that point, we expect Treasury would be left with less than $30 billion to meet all of the nation’s commitments—an amount far short of net expenditures on certain days, which can be as high as $60 billion. Operating the United States government with no borrowing authority, and with only the cash on hand on a given day, would be profoundly irresponsible. 
As I wrote previously, we anticipate that a remaining cash balance of less than $30 billion would be depleted quickly.” - Jack Lew in a letter to Congress, Fortune
So as the world rushes headlong towards a crossroads, where monetary and economic collapse is inevitable since most nations have hyper-inflated their currencies through the printing of unprecedented money, what is the one thing that will protect you from whatever comes, and prepare you for the new system that is by all accounts expected to be based on gold?

The solution may be in a company called Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.


The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.

Tuesday, June 16, 2015

It's time to move your dollars into Karatbars gold as China now on price fix committee

An extraordinary event took place on June 16, as for the first time in the London Gold Fix's history an Asian agency was invited to sit on the committee to determine the daily price for the precious metal.  This comes as China has already emerged as the world's largest physical gold market through their Shanghai Gold Exchange (SGE) market.

In addition to this news, the Chief Investment Officer (CIO) of one of the world's 'too big to fail' banks, Saxobank, penned an article on Bloomberg citing that gold will be the best performing asset through the rest of the this year, expecting the metal to reach $1425.

"China's move towards the taking over of financial institutions in the West is accelerating at a time when America's primary financial allies in Europe are spiraling into crisis. Just yesterday, the International Monetary Fund (IMF) began the process of seeing whether China's Yuan currency was stable and supportive enough to be part of the bank's Special Drawing Rights (SDR) basket of currencies, and on June 16, the Far Eastern economic power received the unprecedented invitation to become part of the London gold price fix. - Examiner"


Chart courtesy of Saxobank

So with the bond markets pointing towards escalating inflation, and the price and value of gold expected to soar in the coming months when analysts are calling for a potential economic and market collapse, what is the solution for you to not only protect your wealth, but ride the wave of solidity into the next financial system?

The answer lies in Karatbars.





Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, you can have the power to move your money into a free e-wallet that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbards, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.

How to make money in both the Dual and Uni-level systems of Karatbars




How to make a six figure income using Karatbars in just 7 weeks.



The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars you can contact the Finance Examiner at [email protected], or create your own account free account with Karatbars as either a customer, or an affiliate (business builder), by clicking the link below, and filling out the one page document.


https://www.karatbars.com/signup.php?s=argonath