Another way to trade gold will be coming from Britain's Royal Mint in 2017.
US based CME will provide the trading platform and the Royal Mint will put gold bars into its on-site secure vault, which will then be digitised to create RMGs, (Royal Mint Gold), whose ownership will be recorded on the blockchain.
Unlike the traditional model for investing in gold, with management fees and storage charges, RMGs will offer ownership of the underlying gold with the option for conversion to physical gold by the Royal Mint at zero storage cost.
I RMG will equal 1 gram of gold, (1/31 of a troy oz) or about $38 at gold's current price of $1177.40. There is no indication yet of any premium that may be applied, but it is doubtful that trading will take place at spot value.
Although they picked up a little today, all the experts say there might be one more down movement before they all take off.
If you didn't sell , don't. Watch for a bottom and be ready to buy. Looks like Platinum starting to move up.
Ask Prices London fix Troy oz. 11/13/2016
Gold/Silver Ratio* 70.3262736119
Gold Platinum Ratio** 1.8174556213
* Historical 1 year = 75 5 year =63
** Historical 1 year = 1.9 5 year =1.97
Equities markets are down about .25%. So is gold. Silver is down .5% and Platinum is down .6%. Kind of unusual that they all go down together like this. Kitco says it's due to technical selling. Whatever
Oil is also down. Only thing that seems to be going up is Base metals with copper being the leader
Gold/Platinum ratio is currently at 1.2. It is usually below unity , (or 1)
Gold tends to outperform platinum when the confidence in the government, economy and fiat money is deteriorating, while it under performs platinum during periods of monetary stability, economic growth and high confidence in the financial system.
Gold Silver ratio is at 70.9. It has been falling since a high of about 83 in January 2016, indicating that silver is currently outperforming gold.
Chuck Butler reported in today's Daily Pfenning that very soon there is likely to be a change to Sharia standards (which are what many Islamic financial institutions follow in whole or in part) to allow Gold to be traded like a commodity and held as an investment.
The World Gold Council (WGC) has been working on this for some time. Currently under Sharia standards, gold, silver, salt, wheat, barley and dates, can only be traded by weight and measurement and the trade must be take place right away, which means that speculating on futures is non-compliant with the standards. Gold can be used as jewelry or even as a currency, but not as a commodity investment.
This change would potentially pave the way for many new investors and large sums of currency to enter the market and propel it to higher gains.