by Adrian Ash
There, that got your attention. But is anyone really listening…?
Gold markets need gold, and that can only ever come out of a mine in the first place or come from a refinery when recycled, writes Adrian Ash of BullionVault, currently in Singapore attending the London Bullion Market Association’s 2016 conference.
So a huge and critical business works to lend cash as well as gold bullion so that miners and refiners can finance production and source metal to sell.
That business – bullion banking – underpins the supply chain providing manufacturers, dealers and ultimately consumers with the gold they want to buy. And once again, this time in Singapore, that supply chain of bullion bankers, refiners and the other massed members of the LBMA find themselves at a truly ‘decisive turning point‘, aka in crisis.