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Prof. Rosa Abrantes-Metz on the lack of oversight in the gold market

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Excerpt from Bloomberg -- “'There is a huge incentive for these banks to try and influence where the benchmark is set depending on their trading positions, and there is almost no scrutiny,' she said. Abrantes-Metz said the gold fix should be replaced with a benchmark calculated by taking a snapshot of trading in a market where $19.6 trillion of the precious metal circulated last year, according to CPM Group, a New York-based research company."

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