Gold Market Manipulators Losing Control: Central Banks Buying Up Physical Gold

Chris Powell of GATA warns that gold market manipulators are losing control. According to Powell, central-bank gold buying and paper gold can signal a shift in power towards those who own physical gold.

Powell argues that owning gold is still a good bet despite market manipulation, as long-term price trends show that gold is increasing in value. He also points out that half of the world's central banks are now buying gold, which suggests they are better informed about its value.

The main issue with paper gold and gold price suppression policy is that it has created an unconquerable short position in gold. Powell believes that this will eventually lead to a collapse, making owning physical gold a good bet against the market's manipulation.