Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By NESARA
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

A key part of the gold market will see a major shift Friday

Wednesday, March 18, 2015 17:21

% of readers think this story is Fact. Add your two cents.

A key part of the gold market will see a major shift Friday

Mar 18, 2015

New gold price medium may lift China’s ‘secretive veil’

ByMYRAP. SAEFONG

MARKETS/COMMODITIES REPORTER

SAN FRANCISCO (MarketWatch) — On Friday, for the first time in close to a century, the gold market price fix is about to change. It is a move that could potentially provide a better view of China’s insatiable demand for the precious metal.

The London Bullion Market Association said the LBMA Gold Price will launch on Friday, with the ICE Benchmark Administration operating the auction process.

That will replace the so-called London Gold Fix, a widely-used pricing medium that has been around since 1919 and is administered by London Gold Market Fixing Ltd. twice daily.

“The changes taking place with the new gold fix could be a game changer for gold trading as we know it,” said Kevin Kerr, president of Kerr Trading International.

Here’s why:

The London Gold Fix, which will be discontinued after Thursday, is determined by just four participants. The nearly 100-year-old, medium has also been the target of decades of manipulation allegations.

But the LBMA has said the electronic auction process for setting the gold price is designed to be transparent and to allow as many participants as possible.

“The new method for fixing the gold price daily will be more reflective of that day’s collective price of gold on the world market,” said Jim Wyckoff, senior analyst at Kitco.com, adding that he believes the previous London fix “was not greatly askew on that determination.”

China is expected to participate directly in setting the new price fix, which, in theory, would make inflows and outflows out of the world’s second largest economy, and one of the largest gold buyers, more apparent.

“This opens up the playing field for gold trading, and adds an entirely new spectrum of possibilities and participants, mainly the Chinese, on the world stage,” Kerr said. “It may lift the very secretive veil” of China’s gold consumption Kerr noted.

For it is part, LBMA said it won’t reveal the participants for the new pricing medium until the day of the launch.

But if the Chinese banks are directly involved in the fixing of the gold price, “they can arbitrage price differences between Shanghai and London [and smooth] out the market … making it an international, 24-hour market,” said Julian Phillips, founder of and contributor to

GoldForecaster.com.

The new fix isn’t expected to affect gold prices GCJ5, +0.29% in the near term.

Source: http://www.marketwatch.com/story/a-key-part-of-the-gold-market-will-see-a-major-shift-friday-2015-03-17

NESARA- Restore America – Galactic News

Source: http://nesaranews.blogspot.com/2015/03/a-key-part-of-gold-market-will-see.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Click here to cancel reply.

Total 1 comment

Hang all drunkdrivers

Gold will still be manipulated big-time by the banks. This change won’t change a thing. Obozo gave the banks trillions of $ and they use it to prop up the $ and beat down gold.

Mar 18, 2015, 7:56 pm 1 Reply

Visits:	1,708,304,013
Stories:	8,450,116