China Finds $15 Billion of Loans Backed by Fake Gold Trades

This news alone should drive gold prices higher, as gold that is allegedly in vaults, does not exist.  However, given previous history of price suppression, it would not surprise me to see gold prices drop--at least temporarily.   The price manipulation is becoming blatant.


http://www.bloomberg.com/news/2014-06-26/china-finds-15b-of-loans-backed-by-falsified-gold-trades.html