Commodity Online
Even as gold spot and futures prices surge globally and bullion analysts continue to predict that the yellow metal prices will zoom to astronomical levels ranging from $1,000 to $5,000, there is more opposition coming to the paper gold at Comex.
Renowned global commodities investor and analyst Jim Rogers says gold trading at Comex, a division of Nymex, is a paper game and not a physical game.
”If you can take 50% of the gold away from the Comex then the price will be closer to what you are paying for physical today. If you take 50% of anything away, you know take 50% of IBM away the prices are going to go up,” said Rogers, a vocal critic of America and Britain, who left the United States to settle down Singapore. (more)
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