Fort Worth, TX (PRWEB) March 15, 2014
Fort Worth-based gold bullion and coin dealer Certified Gold Exchange released a statement today through spokesperson Janet Jones in response to the recent Kitco article which revealed that five major banks are under investigation and facing lawsuits for conspiring to fix the price of gold. CGE’s statement was to the effect that while big banks and even governments may attempt to control the price of gold individuals who owned gold for personal safety and not necessarily to make a profit would be less affected than those who planned to make quick trades for profit.
“If you’re buying and selling gold bullion every day then this certainly affects you,” Jones said of the price fixing allegations recently made against Barclays, Deutsche Bank, HSBC, Bank of Nova Scotia and Société Générale. “Once banks make recommendations or forecasts it’s a pretty sure bet to assume that the banks themselves have already taken advantageous positions. Household investors are almost always at the end of the information chain.”
“If you’re buying gold for safety and privacy then you probably won’t be as affected because even though you don’t want to lose money you’re more interested in holding the gold than you are in taking profits,” continued Jones. “For that reason the majority of certified gold coin owners will be safe because even if they do want to sell their coins most other certified coin owners are holding tight, meaning there are less coins up for grabs, and that keeps numismatic premiums high even if the gold bullion spot price is flat or falling.”
Certified Gold Exchange, Inc. is one of North America’s premier precious metals trading platforms, providing unparalleled service to licensed dealers, institutions, and household investors since 1992. Certified Gold Exchange maintains an A+, Zero Complaint Better Business Bureau rating. For more information or a free “Gold Investor’s Guide,” visit http://www.certifiedgoldexchange.com or call 1-800-300-0715 today.