Increased regulation of the gold market. Is it coming, or is it already here?
Metal prices this high are not in the best interest for anyone, except investors. Governments get nervous that their citizens will lose confidence in the paper currency and industries find it hard to turn a profit with metal so high.
Kevin Crisp, Chairman of the London Bullion Market Association, has stated that keeping the Over The Counter Market “in front of the game” should be the primary goal of the precious metals industry. Crisp openly showed concern about the amount of attention being payed to the precious metals industry now, by suggesting meetings amongst key precious metal organizations around the globe to combat the coming regulations.
Stewart Murry, CEO of LBMA, got the consensus amongst conference attendees about the $1400 gold within the year.
Full article on platts here;