Gold price steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
London’s streets were rumored to be paved with gold, once upon a time. Now they seem to be paved with chit-chat and hearsay regarding the future of the City’s bullion trade.
Now, not to repeat myself, but the London bullion market is currently in a state of transition. To what, exactly, is anyone’s guess. Over-the-counter to exchange, maybe, if the London Metal Exchange can get its hands on it.
Disclaimer: all of this is basis analysis of high-level conversations with senior market participants. Nothing is yet publicly known and no parties mentioned in this blog will comment. Paranoia, maybe. Non-disclosure agreements, most certainly.
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