therealasset.co.uk / by Jan Skoyles / Apr 25 2014
The gold price appears to be creeping up somewhat, first overnight and into today. Despite Stacy Herbert’s claims that this was due to mine and Max’s conversation about gold (watch it here) it is far more realistic (!) that it is down to safe-haven buying as tensions escalate once again.
The climb back towards $1,300/oz may come as a relief to those in gold investment as the price of gold touched $1,268/oz yesterday, a two-and-a-half month low.
London Gold Fix
The London Gold Fix has very much been ‘the’ story in the gold market this year. Even when I attended a breakfast with Jim Rickards, all the top City financiers there were asking what it meant.
Bloomberg were the first (as I understand) news service to report on the investigations being carried out by some regulators into the London Gold Fix. So, it was no surprise to see them reporting on this once again, earlier today, having spoken to ‘people with knowledge of the matter.’ According to their sources, the UK financial regulator, the FCA, is ‘observing’ the London Gold Fix.