Five megabanks–Barclays, JPMorgan Chase, Citigroup, the Royal Bank of Scotland and UBS–are expected to plead guilty to rigging currencies markets; collectively, they will pay fines in the billions of dollars. And, we’re supposed to continue believing that the bullion banks never manipulated the gold and silver markets.
Friday, March 20, the nearly 100-year old manually done London gold fix will end, replaced by an electronic version. The question is will the new method result in a more transparent London fix or will it be a continuation of the same old game.
August 14, the 117-year old London silver fix will be no more. The fix, which now is set by HSBC, Scotia-bank and Deutsche Bank, has been deemed no longer viable because Deutsche is dropping out and cannot find a buyer for its seat on the fixing body. Critics of the fixing process have for decades
For more than a decade, GATA and others have asserted that the gold and silver markets are being manipulated, offering circumstantial evidence that manipulations are real. Now comes more solid circumstantial evidence that support GATA’s assertions.
Friday, October 11, 2013 Zero Hedge In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense? In the space of 4 minutes, almost 2 million ounces notional were flushed into the gold futures markets dumping the price of gold to 3-month