China central bank warns of risks in illegal gold futures speculation

October 24, 2008 by · Leave a Comment
Filed under: Commodities News 

Looks like a secondary market is developing for the gold market in China.  With the paper price of gold bullion a far cry from the “street-price” that you would great if you walked into a dealer to purchase.  We will likely see more of this as long as there is manipulation in the markets in general.

News Piece:

The People’s Bank of China said on Thursday that “underground gold futures speculation” was “typical illegal trading on gold futures” and was not protected by law.  The central bank warned Chinese investors of the extremely high risks in illegal futures trading.

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