Commodity Trade Mantra

Posts Tagged ‘Gold Fix’

China One Step Closer to Becoming World’s Gold Hub

China, the world’s largest gold producer & buyer, feels its market weight should entitle it to be a price setter for gold bullion. The benchmark London ‘gold fix’, is under scrutiny because of long-running allegations of price manipulation. The New Chinese gold price benchmark may be launched before the end of the year.

Will the "Shanghai Fix" fix the Gold Market?

If the gold market has reached some sort of watershed wherein the amount of available gold begins to dwindle and possibly dry up entirely, then China’s strategic economic interest would best be served by higher global bullion prices – the so-called second leg to its long-term gold market strategy.

Ten Banks, Including JPM, Goldman, Deutsche & UBS, Probed For Gold Rigging

Who is involved in this latest gold – rigging scandal? Why everyone! … which makes it immediately obvious why the European regulator had to promptly cover up the whole affair. Under scrutiny are Bank of Nova Scotia, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, SoGén, Standard Bank & UBS.

2015 Gold Outlook: What You Really Need to Know

Big banks gain a big benefit from the Fed driving their borrowing rate to zero. If gold were soaring, then the Fed would be less inclined to keep rates low, as it would be concerned that the dollar is purchasing less & inflation is returning. So banks are happy to have the gold price contained & the Fed is more likely to keep rates low.

Gold To Rise On “Systemic And Geopolitical Risk” As Price Fixing Ends

London’s century-old process for fixing gold prices, tainted by a rigging scandal and attacked by critics as old-fashioned, goes under the spotlight this week in key talks aimed at modernizing the process. The market price of gold, which is driven by investment and jewellery demand, could climb as a result of an overhaul.

We believe that a more transparent & reliable fixing could lead to higher gold prices as we suspect that prices are artificially low at this time and do not reflect the delicate supply demand balance in the physical gold market. Nor do they capture the degree of systemic & geopolitical risk in the world today.

Banks Sued on Claims of Fixing Price of Gold

The lack of prohibition against trading during the calls allows defendants to gain an unfair trading advantage because pricing information exchanged during the calls provides them with insight into the immediate future direction of gold and gold derivative prices.

Gold Fix Demise May Free Gold’s Price To Rise

Deutsche Bank, announced yesterday that it will be resigning from both the London Gold Fixing and London Silver Fixing panels, and that it is withdrawing without having found a buyer for either of its seats on the respective panels. Deutsche Bank’s last day as a member of the Fixings is Tuesday, 13th May.

Banks Disparage Gold Ownership and Engage in Largest Financial Crime Spree

As we enter 2014 and amid a list of bearish reports on gold, issued by most of the major Western banks, the flow of gold from the West to the East continues while Western banks are found guilty of a multitude of criminal activities including market rigging, insider trading, just to mention a few.

follow us

markets snapshot

Market Quotes are powered by India

live commodity prices

Commodities are powered by India

our latest tweets

follow us on facebook