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Why Gold Prices Are Hitting All-Time Highs (WSJ)

There are two gold markets, closely linked because investment banks and other big players are active in both.

The first is the physical market, which brings together miners, refiners, jewelers, central banks, electronics manufacturers, banks and investors. London is the focal point, dating back to the first gold rush from Brazil in 1697. Shanghai, Zurich, Dubai and Hong Kong are also hubs.

The second market is the futures market, for swapping financial contracts based on gold. This market is electronic, hosted by New York’s Comex exchange, and sets the prices you read about in The Wall Street Journal.

https://www.wsj.com/articles/why-gold-prices-are-hitting-all-time-highs-11596533550

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