Re Two quick questions27 Jun 2018 18:15
Hi Pushme - You accept then that the futures market is selling gold that they do not posses and cannot deliver. - OK. - So your interpretation of that situation is that it is akin to fractional reserve, as in banking, and most certainly does not represent manipulation, even though some of the biggest undeliverable orders are struck during twilight trading hours when normally very few trades take place and this same pattern is repeated over and over again and usually more prevalent around option-expiry. - No? - Nothing to see here, move on please! - Fair enough, that's your rose-tinted view that's all.- You stick to that, I'll stick to my philosophy. - Why do I invest in Centamin? - Well, they have outstanding fundamentals which hold an appeal for me and I live in hope that the illegal manipulation, yes it is illegal, fractional reserve is not, will be brought to an end - A final question I'd like to ask you if I may. - Do you think that it is right that the futures market, in it's present form, should determine the price of physical gold? - On the Shanghai futures exchange for example, sellers are not allowed to contract to sell gold unless it is physically stored and available for delivery. - That sounds like a good, fair and honest way to do business.