“New London Gold Price is Old London Gold Fix” – Gold Goliath

Posted on :Mar 20, 2015

Gold prices are higher on Friday making gains over the past three days. The U.S. dollar index is seeing huge sell-offs today after the Fed left investors with no real clarity on whether or not interest rates would stay the same or go up. The Fed had earlier indicated that a growing economy would bring higher interest rates and according to the Fed, the economy was improving. The Fed knows the economy is flat and raising interest rates would have disastrous consequences. Gold last reported a. m. is $1185.40 up $14.90 and silver is $16.89 up 72 cents.

Investors around the globe have decried for years that the London Gold Fix has been suppressing gold and silver prices intentionally by selling metals that don’t exist. After uproar combined with recent law suits, the Gold Fix last year opted for a change to save face as several Gold Fix member banks walked away from the group. The much heralded change that was to ensure transparency and honesty in the markets is nothing more than lipstick on a pig.

The “new” London Bullion Market Association Gold Price is actually the “old” Gold Fix with a new name and two new member banks. Members in the old system, Barclays, HSBC, SocGen and Bank of Nova Scotia are now being joined by UBS and Goldman Sachs. All of these banks either has been or is under investigation for manipulation of prices in the precious metals markets. If the Gold Fix really wanted to earn trust it would have been wise not to bring in two more banks that are already under investigation.

The U.S. justice Department announced in February that it was investigating allegations that the world’s largest banks were manipulating gold prices. In all, the Justice Department is investigating more than 10 banks including UBS, Goldman Sachs and JP Morgan Chase and Company. An interesting note is JP Morgan is also the primary owner of COMEX where precious metals futures prices are “fixed” daily as well. Talk about having the system covered.

The new-old gold club has decided for time being not to allow China a seat at the dinner table. China, being the largest producer and purchaser of gold in the world made known it wanted a seat. Unfortunately, anyone seen as a possible antagonist to the old system won’t be greeted with open arms. Fortunately for China, they don’t care.

The new Gold Price will continue shorting precious metals markets until they are forced out. The problem is, how do you force out the world’s most powerful banks. There’s a politician in the pocket of every major banker and as need be, legislation will be passed to make sure those who come out on top remain there. Free markets are a wonderful thing of the past.

Silver remains available below production costs as global demand is creating supply deficits. Now is the time to purchase silver as part of your investment portfolio. It can’t get much better than paying less that it costs to produce it.

Gold Goliath is offering special incentives on monster boxes of the 1 oz. Silver Canadian Maple Leaf while supplies last. Call 1-800-577-3195 for details.

Gold Goliath is not your typical gold dealer.

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