- James Turk via Goldmoney:
Tuesday, August 6, 2013
Central Bank Manipulation is Being Overpowered
Market forces overpowering central bank manipulation can explain what is now happening in gold. The US government does not want gold to go into backwardation because it means that people would rather hold physical gold than dollars, which undermines the power that comes with being the world’s reserve currency. But as we can see in the following table that presents the US dollar spot gold price and forwards against gold, market forces are prevailing to some extent over the Federal Reserve’s attempts to control interest rates.
at 11:33:00 AM