To better understand how the spot price of gold gets 'discovered,' critical to understand some of the key inputs in one of the most significant dictators of gold bullion prices, the CME Group's COMEX in New York. Recently some of the largest COMEX gold traders who headed JP Morgan’s gold derivatives trading desk have been charged with violating Racketeering Influenced and Corrupt Organizations Laws. For about six years now, the CME Group (COMEX owner and operator) openly invites foreign central banks to trade high volume futures contracts at a discount. The same gold futures contracts which are crucial to gold ... (full story)