[With Subtitles] David Jensen: The London Metals Exchanges are the Crux of Market Pricing

Tom Bodrovics welcomes back mining executive and metals analyst David Jensen.

Together they revisit concerns around the London gold market's dominance, estimated to account for 91-92% of the global gold trade.

This is thanks to the Bank of England's 'regulatory oversight' since 1986, permitting unallocated gold contracts instead of physical bars.

The market trades $500 billion of gold daily andand 2.9 billion ounces of silver.

However, only around 3.5% of London's vaulted gold is actual physical.

They contrast the LBMA with the Shanghai gold market and point out the key differences.