| How is the price of gold established? Scratching the surface, the answer seems obvious: it is a result of a free interplay of market forces. However, there is no single gold market; the yellow metal is traded in many places.
Who then sets the price of gold? London or New York? Which of them shapes the price discovery process? What is the relationship between the LBMA Gold Price and Comex futures and spot prices? As the chart below shows, there is an almost perfect correlation between London and New York prices; but which leads the dance?..............................................Full Article: Source
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