One of the most highly respected fund managers in Singapore spoke with King World News about a stunning event that is about to completely alter the war on gold. Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also discussed how this war will ultimately end as well as what all of this means for investors in gold. Below is what Williams had to say in his powerful interview below.
Williams: “You have 5 banks that set the price of gold every day in London. They literally do it over the telephone. And this process takes anywhere from a few minutes to over an hour. Amazingly enough, in this day and age, during that ‘fixing’ time the participants on that call are allowed to trade the metal (gold) and they are allowed to trade derivatives on that metal during the phone call.