The Really Useful Gold Thread

Hectorp. Had some discussion on a related thread about the gold price about a boozy lunch with an old mate who works for city grandees as a mining and natural resources advisor, also experienced metal trader, and mining finance guru. Mates opinion was that the gold price is easy to rig, and that informed opinion is that political pressure is and will be increasingly on the fixers to keep the market orderly and thereby defend the dollar. We got to this via the jp morgan/barrick case that has begun in america where they are accused of rigging the gold price. I thought it was a ludicrous case, but his view was that it is very easy since the market for physical gold is relatively small. All drunken gossip, but food for thought, and knowing the person involved i would have said not without a core of truth.