By Ross Norman of Sharps Pixley | Friday 20 March 2020
For price discovery mechanisms to do their job, they need the unimpeded interaction of buying and selling forces in order to point true. Like a compass, it is moved by the collective of external influences. However, it could be argued that the gold price is currently only a "good approximation", which is the best you are going to get. More importantly, if gold is, is often described, the “sum of all fears” - what does the current price tell us about epic global events as they unfold ? As such, gold is also a barometer.
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