Gold Price Being Manipulated, Should Be $2,900 – Keiser UNCENSORED (Part 2)
Gold’s true-value potential is being held back by market “abuse,” which is why the metal is trading at relatively depressed prices, said Max Keiser, host of the Keiser Report.
Keiser cited the tremendous amount of paper gold in the market as the main problem, as this creates opportunities for short sellers preventing prices to move to the upside.
During the trading of gold futures, or paper gold, Keiser said that “there’s a huge gap between when they’re supposed to reconcile these trades and when they actually do, and in that gap there’s a lot of abuse, and that abuse comes with banging the price of gold down in ways that do not reflect the genuine price discover between buyers and sellers.”
Keiser said that when tracked against the historical U.S. debt accumulation, gold should be trading around $2,900 an ounce today if no market manipulation were to occur.
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