Here Is The FT's <b>Gold Price</b> Manipulation Article That Was Removed <b>...</b> |
- Here Is The FT's <b>Gold Price</b> Manipulation Article That Was Removed <b>...</b>
- <b>Gold Price</b> Rigging Fears Put Investors On Alert - FT | Zero Hedge
- Prison Planet.com » Here Is The FT's <b>Gold Price</b> Manipulation Article <b>...</b>
- Goldcorp CEO: Bullish on <b>gold price</b> - CNBC
| Here Is The FT's <b>Gold Price</b> Manipulation Article That Was Removed <b>...</b> Posted: 25 Feb 2014 06:35 PM PST Two days ago the FT released a clear, informative and fact-based article, titled simply enough "Gold price rigging fears put investors on alert" in which author Madison Marriage, citing a report by the Fideres consultancy, revealed that global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013. To those who hve been following the price action of gold in the past four years, gold manipulation is not only not surprising, but accepted and widely appreciated (because like the Chinese those who buy gold would rather do so at artificially low rather than artificially high fiat prices) and at this point, after every other product has been exposed to be blatantly and maliciously manipulated by the banking estate, it is taken for granted that the central banks' primary fiat alternative, and biggest threat to the monetary status quo, has not avoided a comparable fate. What is surprising is that where the FT article once was, readers can now find only this: And since we can only assume the article has been lost to FT readers due to some server glitch, and not due to post-editorial consorship or certainly an angry phone call from the Bank of England or some comparable institution, we are happy to recreate it in its entirety. Just in case someone is curious why gold price rigging fears should put investors on alert. Gold price rigging fears put investors on alert By Madison Marriage Global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy. The findings come amid a probe by German and UK regulators into alleged manipulation of the gold price, which is set twice a day by Deutsche Bank, HSBC, Barclays, Bank of Nova Scotia and Société Générale in a process known as the "London gold fixing". Fideres' research found the gold price frequently climbs (or falls) once a twice-daily conference call between the five banks begins, peaks (or troughs) almost exactly as the call ends and then experiences a sharp reversal, a pattern it alleged may be evidence of "collusive behaviour". "[This] is indicative of panel banks pushing the gold price upwards on the basis of a strategy that was likely predetermined before the start of the call in order to benefit their existing positions or pending orders," Fideres concluded. "The behaviour of the gold price is very suspicious in 50 per cent of cases. This is not something you would expect to see if you take into account normal market factors," said Alberto Thomas, a partner at Fideres. Alasdair Macleod, head of research at GoldMoney, a dealer in physical gold, added: "When the banks fix the price, the advantage they have is that they know what orders they have in the pocket. There is a possibility that they are gaming the system." Pension funds, hedge funds, commodity trading advisers and futures traders are most likely to have suffered losses as a result, according to Mr Thomas, who said that many of these groups were "definitely ready" to file lawsuits. Daniel Brockett, a partner at law firm Quinn Emanuel, also said he had spoken to several investors concerned about potential losses. "It is fair to say that economic work suggests there are certain days when [the five banks] are not only tipping their clients off, but also colluding with one another," he said. Matt Johnson, head of distribution at ETF Securities, one of the largest providers of exchange traded products, said that if gold price collusion is proven, "investors in products with an expiry price based around the fixing could have been badly impacted". Gregory Asciolla, a partner at Labaton Sucharow, a US law firm, added: "There are certainly good reasons for investors to be concerned. They are paying close attention to this and if the investigations go somewhere, it would not surprise me if there were lawsuits filed around the world." All five banks declined to comment on the findings, which come amid growing regulatory scrutiny of gold and precious metal benchmarks. BaFin, the German regulator, has launched an investigation into gold-price manipulation and demanded documents from Deutsche Bank. The bank last month decided to end its role in gold and silver pricing. The UK's Financial Conduct Authority is also examining how the price of gold and other precious metals is set as part of a wider probe into benchmark manipulation following findings of wrongdoing with respect to Libor and similar allegations with respect to the foreign exchange market. The US Commodity Futures Trading Commission has reportedly held private meetings to discuss gold manipulation, but declined to confirm or deny that an investigation was ongoing. h/t Noel (5 votes)  | ||||||||||||||||||||||||||||||
| <b>Gold Price</b> Rigging Fears Put Investors On Alert - FT | Zero Hedge Posted: 24 Feb 2014 04:44 AM PST Today's AM fix was USD 1,333.00, EUR 968.54 and GBP 800.46 per ounce. Gold fell $0.20 or 0.02% Friday to $1,323.50/oz. Silver lost $0.02 or 0.09% at $21.81/oz. Gold has risen 0.8% in London and reached $1,334.60/oz, its highest level since October 31. After last years 28% decline, gold is now 11% higher this year.
Gold may post its fourth week of gains as concern of prolonged political unrest in Ukraine raises fears of a sovereign default and contagion. This is adding to safe haven demand for gold - particularly in Eastern Europe and Russia. A breakthrough peace deal for Ukraine has halted days of violence and may bring sweeping political change, meeting many of the demands of the pro-European opposition. However, there are considerable financial and economic challenges facing Ukrainian banks, the Ukrainian pension system and the wider economy. There remains the risk of a default that could lead to contagion. Bullion for immediate delivery traded at $1,325.10 an ounce at 2:23 p.m. in Singapore from $1,324.28 on February 21, when prices capped a third weekly gain. The Financial Times reports this morning that global gold prices may have been manipulated on 50% of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy. The findings come amid a probe by German and UK regulators into alleged manipulation of the gold price. Prices are set twice a day by Deutsche Bank, HSBC, Barclays, Bank of Nova Scotia, and Societe Generale in a process known as the London gold fixing. Fideres' research found the gold price frequently climbs, or falls, once a twice-daily conference call between the five banks begins, peaks or troughs, almost exactly as the call ends, and then experiences a sharp reversal, a pattern it alleged may be evidence of "collusive behavior." Fideres concluded that this "is indicative of panel banks' pushing the gold price upwards on the basis of a strategy that was likely predetermined before the start of the call in order to benefit their existing positions or pending orders." "The behavior of the gold price is very suspicious in 50% of cases. This is not something you would expect to see if you take into account normal market factors," said Alberto Thomas, a partner at Fideres. Pension funds, hedge funds, commodity trading advisers and futures traders are most likely to have suffered losses as a result, according to Mr Thomas. He said that many of these groups were "definitely ready" to file lawsuits. Daniel Brockett, a partner at law firm Quinn Emanuel, also said he had spoken to several investors concerned about potential losses. Matt Johnson, head of distribution at ETF Securities, one of the largest providers of exchange-traded products, said that if gold price collusion is proven, "investors in products with an expiry price based around the fixing could have been badly impacted." Gregory Asciolla, a partner at Labaton Sucharow, a U.S. law firm, added: "There are certainly good reasons for investors to be concerned. They are paying close attention to this and if the investigations go somewhere, it would not surprise me if there were lawsuits filed around the world." All five banks declined to comment on the findings, which come amid growing regulatory scrutiny of gold and precious metal benchmarks. BaFin, the German regulator, has launched an investigation into gold-price manipulation and demanded documents from Deutsche Bank. The bank last month decided to end its role in gold and silver pricing. The U.K.'s Financial Conduct Authority is also examining how the price of gold and other precious metals is set as part of a wider probe into benchmark manipulation following finding of wrongdoing with respect to LIBOR and similar allegations with respect the foreign exchange market. The Financial Times article, 'Gold price rigging fears put investors on alert',can not be accessed this morning, but the Gold Anti Trust Action Committee (GATA) covered the Financial Times story in their dispatches and it can be read here. Webinar: Gerald Celente On Strategies For Protecting Your Wealth In 2014 And Beyond Gerald Celente needs little introduction: Founder of The Trends Research Institute in 1980, Gerald Celente is a pioneer trend strategist. He is author of the national bestseller Trends 2000 and Trend Tracking (Warner Books) and publisher of the internationally circulated Trends Journal newsletter. Celente's Trends Research Institute has been featured on Oprah Winfrey amongst hundreds of media interviews and credited with forecasting many major geopolitical and economic trends. These include the "Panic of '08," the collapse of the Soviet Union, the dot-com bust, the 1997 Asian currency crisis, the 1987 world stock market crash, increased terrorism against America, "Crusades 2000," and the quagmire in Iraq … before war began and the last two recessions. This webinar is scheduled for Wednesday, February 26, 2014 2000 GMT / 1200 PST / 1500 EST and will be moderated by Mark O'Byrne, Head of Research at GoldCore. (3 votes) | ||||||||||||||||||||||||||||||
| Prison Planet.com » Here Is The FT's <b>Gold Price</b> Manipulation Article <b>...</b> Posted: 26 Feb 2014 02:13 AM PST Zero Hedge Two days ago the FT released a clear, informative and fact-based article, titled simply enough "Gold price rigging fears put investors on alert" in which author Madison Marriage, citing a report by the Fideres consultancy, revealed that global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013. To those who hve been following the price action of gold in the past four years, gold manipulation is not only not surprising, but accepted and widely appreciated (because like the Chinese those who buy gold would rather do so at artificially low rather than artificially high fiat prices) and at this point, after every other product has been exposed to be blatantly and maliciously manipulated by the banking estate, it is taken for granted that the central banks' primary fiat alternative, and biggest threat to the monetary status quo, has not avoided a comparable fate. What is surprising is that where the FT article once was, readers can now find only this: And since we can only assume the article has been lost to FT readers due to some server glitch, and not due to post-editorial consorship or certainly an angry phone call from the Bank of England or some comparable institution, we are happy to recreate it in its entirety. Just in case someone is curious why gold price rigging fears should put investors on alert. Gold price rigging fears put investors on alert By Madison Marriage
Global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy. The findings come amid a probe by German and UK regulators into alleged manipulation of the gold price, which is set twice a day by Deutsche Bank, HSBC, Barclays, Bank of Nova Scotia and Société Générale in a process known as the "London gold fixing". Fideres' research found the gold price frequently climbs (or falls) once a twice-daily conference call between the five banks begins, peaks (or troughs) almost exactly as the call ends and then experiences a sharp reversal, a pattern it alleged may be evidence of "collusive behaviour". "[This] is indicative of panel banks pushing the gold price upwards on the basis of a strategy that was likely predetermined before the start of the call in order to benefit their existing positions or pending orders," Fideres concluded. This article was posted: Wednesday, February 26, 2014 at 5:13 am
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| Goldcorp CEO: Bullish on <b>gold price</b> - CNBC Posted: 21 Feb 2014 12:13 PM PST  Pisani: Market drifts lower Tue 25 Feb 14 | 03:58 PM  US Dept. of Transportation: New rules for oil-by-rail companies Tue 25 Feb 14 | 03:58 PM  Overall market not crazy: Pro Tue 25 Feb 14 | 03:50 PM  Cramer: Looking for more rationality Tue 25 Feb 14 | 03:41 PM  Samsung's new Galaxy Gear smartwatch Tue 25 Feb 14 | 03:35 PM  Secondmarket to launch US bitcoin exchange Tue 25 Feb 14 | 03:25 PM  The Mt. Gox debacle Tue 25 Feb 14 | 03:20 PM  The power of Disney Tue 25 Feb 14 | 03:16 PM  Magical news for Disney investors Tue 25 Feb 14 | 03:11 PM  Closing Bell Exchange: Cautiously optimistic Tue 25 Feb 14 | 03:02 PM  3 to Watch: TSLA, ITMN, BBRY Tue 25 Feb 14 | 03:00 PM  Bill Gross: 'Autocratic staff' debate overblown Tue 25 Feb 14 | 02:42 PM  Bill Gross: Our atmosphere is competitive, but typical Tue 25 Feb 14 | 02:42 PM  RealPage's huge shortfall: Greenberg Tue 25 Feb 14 | 02:33 PM  Arizona awaits governor's decision on SB1062 Tue 25 Feb 14 | 02:28 PM  InterMune CEO: Drug trials bring hope Tue 25 Feb 14 | 02:21 PM  Pimco a tough place to work: WSJ's Zuckerman Tue 25 Feb 14 | 02:18 PM  Mt. Gox plagued by problems Tue 25 Feb 14 | 02:10 PM  Higher priced homes boost Toll Brothers Tue 25 Feb 14 | 02:09 PM  Fed won't raise rates until 2015: Pro Tue 25 Feb 14 | 02:03 PM  CNBC top 100 contenders: First fracking billionaire Tue 25 Feb 14 | 01:42 PM  Drug makers focus on Hepatitis C Tue 25 Feb 14 | 01:40 PM  Sallie Mae CEO: Navient to run loan services operations Tue 25 Feb 14 | 01:35 PM  Sallie Mae CEO: Some manage student loan debt successfully Tue 25 Feb 14 | 01:33 PM  Santelli: Downside of yields, upside of Treasurys Tue 25 Feb 14 | 01:30 PM  Americans waste 31% of food supply in 2010 Tue 25 Feb 14 | 01:28 PM  Heavyweight fight: Gross vs. El-Erian at Pimco? Tue 25 Feb 14 | 01:21 PM  Ukrainian journalists investigate dumped documents Tue 25 Feb 14 | 01:11 PM  Is the nat gas rally over? Tue 25 Feb 14 | 01:10 PM  Futures Now, February 25, 2014 Tue 25 Feb 14 | 01:10 PM |
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