Rising gold and silver prices have historically acted as the primary warning signal of loose monetary policy by central banks thereby limiting such policy by forcing interest rates higher. For more than a century, the London gold and silver markets have been the world’s primary cash/spot physical precious metals markets. Since 1987 when the Bank of England oversaw the substitution of promissory note trading instead of trading ownership of physical gold and silver bars in London’s cash/spot market, infinite promises for immediate metal delivery have been enabled in London. This allowed decades of declining then zero ... (full story)