Sunday, January 24, 2021

Tag: LBMA Gold Price benchmark ignoring market conditions

LBMA Gold Price benchmark ignoring market conditions, short-changing investors

by Ronan Manly, BullionStar:

As the gaping spread between London (LBMA) spot gold prices and front-month COMEX gold futures prices persists for a sixth week triggered by the bullion bank EFP liquidity blow up on Monday 23 March 2020, one unappreciated aspect of this gold price discovery scandal is that daily London LBMA Gold Price auctions are deliberately ignoring COMEX gold prices when setting the Opening Price (starting price) in the twice daily gold price auction.