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Why have all Chinese banks disappeared from the LBMA gold price auction?
By Ronan Manly
Bullion Star, Singapore
Tuesday, October 24, 2023
There has been an unprecedented departure of all the Chinese banks from the London Bullion Market Association gold price auctions.
These departures have gone uncommented by the LBMA, the Financial Conduct Authority, the mainstream media, auction administrator ICE Benchmark Administration, and by the Chinese banks themselves.
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The exit of the Chinese banks raises questions as to what this has done to the auction liquidity and price discovery as the auctions are not reflecting supply and demand of gold from China -- the world's largest gold miner, gold importer, and gold consumer. ...
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