Gold is shifting from West to East – along with the balance of power

There is a grand conspiracy theory that the price of gold is kept low to preserve the status of the West's major currencies. Dominic Frisby isn't convinced. The truth is probably much more simple than that.

Twice a day at 10:30AM and 3PM - the price of gold is set on the London market by the five members of the London Gold Pool (HSBC, SocGen, Deutsche Bank, Scotia-Mocata and Barclays). This is known as the London fix and it's used as the benchmark to price gold, gold products and derivatives in markets around the world.

I've been looking at some charts and an astonishing pattern has become apparent. It's a pattern which, if you'd traded it methodically, would have earned you 1% every 20 days over a period of 24 years. That compounds to a staggering 2,050%!

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