Due to the fact that the Shanghai Gold Exchange is in full-swing development, China may fully control the price of this precious metal in the future, and this influence would be heedless of Comex.
Later, the Empire can trigger the reassessment of the world currencies amid an increase in gold prices to the level of its actual cost.
This opinion was expressed by economist Jim Willie. He argues that in the short term, China will double the price of the yellow metal compared with today's marks. All this is expected to impact on derivatives and to breach the long-standing practice of using Comex futures for lowering gold prices and protecting the U.S. currency on the market.
At the end of the last month, Shanghai began to offer “paper” gold and futures for physical deliveries of the precious metal. This action is a real threat to New York and London. It is worthy of note that sometime later protests swept through Hong Kong.
