What’s Behind the Soaring Gold Price?

I’m in Zurich speaking at a conference, and the hot topic is what’s behind the rise in the gold price. No one seems to have a clue and I have not been much help, but there does appear to be an answer to the question.

The most plausible explanation is from someone far closer to bullion markets than me, and that’s Ross Norman of Metals Daily (he’s not at the conference).

Understandably, he has addressed this question as well. He has concluded that the answer lies in the options market. I quote:

‘T...