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The gold price: Why it’s broken, and what to do about it

Monday, April 14, 2014 - 01:54

April 14 - The process for setting the gold price is archaic, slow and potentially easy to fiddle. Breakingviews columnist Dominic Elliott sets out the problems with gold pricing – and how to fix them.

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Yeah he's told tarnished. The prices to sitting benchmark prices in the precious metal is talk cage sluggers. And potentially open to -- His -- -- What to do about it. Unlike many stances there's no horse meat system for pricing -- Every day fight banks hold two conference schools to send tensions. Don't -- -- Deutsche Bank HSBC. Soc -- and Scotiabank. Publish no record of the good news and has no independent oversight. The price is based on orders for colds no historical trends from. That means any of those involved in potentially manipulate the price by pitching in a huge -- settled. If they're willing to take the risky to be filled. If the price -- process continues. They have no obligation to on the -- to. The -- also take too long sometimes fifteen minutes or more. It during that time information on what's happening seems to see -- The -- suggest that gold futures volume and volatility in spite chewing the -- That may be forceful explanation is the strange trading patterns. The -- typical. Now the fight banks faced approach into the activity in Germany and the UK. In launching US lawsuits accuse the banks of manipulating prices have the -- ten wins. There's no evidence of wrongdoing. But the gold market -- ain't even if the banks an innocent. The remedies to -- Bring more banks and the prices to dispel the suggestion of a -- -- Allow a third party to provide independent oversight. Or to make racist it's trying to smooth borders. And that now not later.

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The gold price: Why it’s broken, and what to do about it

Monday, April 14, 2014 - 01:54