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World's biggest metals exchange takes on the gold elite

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Published : July 10th, 2017
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Category : GoldWire

The world's biggest industrial metals exchange is taking on the most powerful players in the gold market with the launch on Monday of its first futures contract for the commodity since the middle of the 1980s.

The London Metal Exchange and its partners aim to grab a piece of the action in a city where almost half the world's gold changes hands. At stake are rival visions of how best to run the market, pitching the LME, Goldman Sachs Group Inc. and Morgan Stanley on one side and the London Bullion Market Association representing some of the biggest trading firms on the other.

Three years in the making, the gold contract, launched alongside another for silver, aims to draw investors from the off-exchange deals that currently dominate the city's $5 trillion-a-year market. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-...es-challenge...

Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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