The price of gold is a total sham.
The U.S. manipulates the price of gold in order to control the devaluation of the Greenback.
The June 2011 report shows that JPM has about 80 percent of the gold derivatives in the world on its book, with HSBC holding the other 20 percent
. And in other commodities, JPM holds a similar position as well as part of their overall $78 trillion derivatives book which is heavily dominated by interest rate and credit derivatives.http://www.occ.treas.gov/topics/capital ... eport.html