“I’m no expert, but some say it’s a manipulated market, as are stocks and bonds.”
From October 2014 First Trust Research:
As of that day in the PDF the total market capitalization of the world’s stock markets is OVER $60 TRILLION. If you honestly think that is solely manipulative you are living in a dream world.
It is the sum of economic value of the underlying companies as the collective investor world values it. Throw in corporate bonds, municipal bonds, money market accounts, savings bonds, savings accounts, real estate, etc and the number is probably in the $150 trillion range total.
Keep believing it’s all some PLOT . . .
An interesting chart I found about gold usage and ownership:
World Gold Holdings (2011)
Location / Holdings(tonnes) / Share of total
Total 171,300 100%
Jewelery 84,300 49.2%
Investment (bars, coins) 33,000 19.26%
Central banks 29,500 17.2%
Industrial 20,800 12.14%
Unaccounted 3,700 2.2%
HALF of the gold in existence is in JEWELRY.
Keep dreaming that this market is manipulated too.
LRoggy, if you re-read my post, I not only admitted that I’m no expert on the gold market (or any market), but leaving open the possibility that markets could be manipulated was based on what “some say”.
That all means I don’t claim to know what’s really going on, only what I’ve read/heard what others say; others who themselves claim to know.
BTW, if I really did know what’s going on in the markets, I’d be typing this from some beachfront property in Hawaii, enjoying a glass of fine wine.
IIRC, the total gold mined to date is about 181,000 standard tons.
So, the 600 tons is just a little over .003% of that total.