London Bullion Body Could Charge More Or Disband Gold Rates

Game plan London: The NFL abroad


Jiffy Lube? We have them in America where you get your oil changed.” It all came after multiple Steelers players followed the lead of Vikings end Jared Allen and balked at the idea of playing full-time in London if the NFL ever puts a team here. “I wouldn’t like it,” quarterback Ben Roethlisberger said. “I just, I wouldn’t. It’d be really tough.” Said linebacker LaMarr Woodley, “It’d be rough. Luckily, I’m in Pittsburgh, so I don’t have to worry about that.” Tomlin said he hasn’t considered the idea because “(i)t doesn’t involve me.” Told that it might one day, Tomlin responded with a smile, “I doubt it.” Perhaps Taylor could lead the way. He said he’s a fan of soccer (or, as he’d probably say, futbol) and in particular Argentine star Lionel Messi, who plays for FC Barcelona. “Should I be saying that here?” Taylor asked. He hopes to “bring a little London swag back to America” with a shopping trip before kickoff. And Taylor has one other item to check off his list. “I’ll tell you what,” Taylor said. “I would love to meet the Queen the head lady.” PHOTOS: NFL GOES OVERSEAS NFL titans Troy Polamalu (43) of the Pittsburgh Steelers and Adrian Peterson of the Minnesota Vikings met Sept. 29 as the NFL returned to London and Wembley Stadium. The Vikes outlasted the Steelers 34-27, thanks in large part to Peterson’s efforts. Kirby Lee, USA TODAY Sports There were other types of titans overlooking the grounds outside Wembley. Kirby Lee, USA TODAY Sports Minnesota was designated the “home” team, and the Viking theme seemed to resonate with local fans. Kirby Lee, USA TODAY Sports Like the preceding games at Wembley, the Steelers-Vikings contest proved a tough ticket after quickly selling out. Kirby Lee, USA TODAY Sports Naturally, cheerleaders were a big component of the fanfare. Matt Dunham, AP Hand over hearts for the Vikes cheerleaders. Kirby Lee, USA TODAY Sports Gene Simmons, best known as the bassist of rock group KISS, sang the American national anthem. Sang Tan, AP Vikings WR Greg Jennings celebrates a 70-yard TD catch from backup QB Matt Cassel. Matt Dunham, AP Jennings would haul in a 16-yard scoring strike from Cassel later in the day and got mobbed by his teammates as Minnesota’s lead was extended to 34-17. Matt Dunham, AP Cassel ended up with 248 yards and two TD passes in his first-ever start for the Vikes. Julian Finney, Getty Images Steelers rookie RB Le’Veon Bell made his NFL debut in the game and vaulted into the end zone for his first professional TD in the opening quarter. Bell hit paydirt again in the third quarter. Sang Tan, AP Peterson got loose himself, galloping 60 yards for the Vikings’ second touchdown before halftime. Kirby Lee, USA TODAY Sports Reigning NFL MVP Adrian Peterson got loose himself, galloping 60 yards for the Vikings’ second touchdown before halftime. Kirby Lee, USA TODAY Sports Minnesota didn’t salt away the victory until DE Everson Griffen (97) strip-sacked Steelers QB Ben Roethlisberger with 19 seconds remaining in regulation. Matt Dunham, AP Fullscreen The league has been featuring its product abroad for decades and is increasing the visibility of players overseas.

Ike Taylor gets playful as Steelers arrive in London


On Sunday, the Pittsburgh Steelers will take on the Minnesota Vikings at London’s Wembley Stadium, a game the NFL is said to have sold out nine months in advance. (The Jacksonville Jaguars vs. the San Francisco 49ers, on Oct. 27, also at Wembley, sold out just as quickly.) But what does this land of the “fast-bowled googly” (cricket), “ruck” (rugby) and the “rolling off” (netball) not to mention soccer, the nation’s most celebrated sport make of “automatic first downs,” “personal fouls,” and the “line of scrimmage”? “American football is at a pretty exciting stage in the United Kingdom,” says Richard Fuller, a British Conservative Party politician who has set up a cross-party group in parliament to study the prospect of wider adoption of America’s most popular sport here, and how best to support its growth. “There are a lot of forces coming together to take it to the next level,” he says. Fuller, a football devotee from the age of 19 after he traveled around the USA on a greyhound bus, says the recent granting of BUCS status roughly equivalent to the NCAA to football-playing British colleges is not only a development that is key to unearthing home-grown talent, but an indication of how far things have progressed. “Whatever cultural barriers initially existed in Britain were overcome in the late 1980s, when American football was broadcast here on TV for the first time,” he says. “There’s a strong foundation of support now.” Indeed, in the broadest possible terms those who say they like the sport Britain has come a long way. More than 11 million people out of a total population of 63 million in the United Kingdom, or 17%, now say they are NFL fans, according to NFL research. That compares to about two-thirds of people in the USA who self-identify as football fans.

In July, the International Organisation of Securities Commissions (IOSCO) – a global umbrella group for market regulators – detailed a series of principles on financial benchmarks, after the Libor (London Interbank Offered Rate)manipulation scandal. The scandal led Madrid-based IOSCO to study how Libor, which was rigged by British banks, including Barclays (BARC.L), and other money market benchmarks should be supervised and how they are set, to restore market confidence. Libor is the estimated interest rate set daily by leading London banks at which they would be charged when borrowing from other banks. The GOFO rate is the gold equivalent to Libor, at which dealers will lend gold on swap against U.S. dollars. “Going forward, the GOFO service has to conform to some principles, therefore we have to look at how the data is collected, how it’s recorded, who is administrating it,” LBMA Chairman David Gornall told Reuters in an interview. “And we could either charge member banks more money or if the market decides that they don’t need to spend more money on regulatory affairs (because) as they already pay someone to do that… then the GOFO might not exist.” Gornall added that the alternative for the LBMA would be to carry on with the Good Delivery List, the Responsible Gold Guidance on ethical gold production, refining and assaying, the annual conference, publishing the dedicated quarterly journal the Alchemist but not the regulatory side. The Good Delivery rules specify the physical characteristics of bars used in settlement in the wholesale London bullion market. PRICE ENVIRONMENT Gold prices have fallen by a fifth this year, hurt by speculation that the U.S. Federal Reserve is set to rein in its bullion-friendly quantitative easing (QE) policy, a major driver of the record-high prices seen in recent years. QE put pressure on long-term interest rates, keeping the opportunity cost of holding non-yielding gold at rock bottom, while stoking fears of rampant inflation in the years to come. Gold dropped $200 an ounce in two days in April in its sharpest slide in 30 years, and investors started to divest gold as a result, unwinding nearly 700 tonnes of ETF holdings so far, while central bank buying more than halved.