Commodity Trade Mantra

Posts Tagged ‘London Fix’

Gold Jumps 1.8%, Silver Eagle Bullion Coins Top 27M

American Silver Eagles turned up 380,000 for 955,000 on the week so far, the most sold in a week since the one ended May 9. They also hurdled 27 million for the year to maintain a pace that is the second quickest in the coin’s 29-year history. Silver Eagle sales in record year 2013 had topped 30.2 million through Aug. 6, 2013.

Gold Dips, Silver Eagle Bullion Coins Top 26 Million

American Silver Eagles sales in record year 2013 had topped 29 million through the first seven months. Silver Eagles advanced by 260,000 in the later hours on Tuesday. The gain lifted Silver Eagle sales over 26 million for the year, maintaining a pace that is the second quickest in the coin’s 29-year history.

London Fix Gold Rigging By Bullion Bank Exposed In Class Action Lawsuit

A class action lawsuit filed by Edward Derksen on July 9, 2014 against the London gold fix member banks clearly shows the critical role the daily fix has in the manipulation of the price of gold, both in a downward and upward direction: whichever suits the London Fix member banks. Here are some of the highlights.

Gold Recovers, Silver Eagle Bullion Coins Top 25 Million

Gold broke away from a losing streak Wednesday, closing higher for the first time in 4 sessions, but Silver declined for a fourth consecutive session. Sales of 2014 American Silver Eagles have topped 25 million for the year. The annual Silver Eagle sales had jumped above 42.6 million in 2013 & coin sales had hit 27,575,000 by July 16, 2013.

Manipulation Cannot Stop Gold From Rising Significantly

It was only after the Libor scandal, that the awareness of the broad public was opened to manipulation in all sorts of financial assets like currencies, commodities, gold and silver, etc. Gold is a liquid store of value and manipulation cannot stop gold from rising significantly.

UBS Investigated For Gold Manipulation- Gold Inquiry Goes Beyond London Fix

A number of authorities are reportedly investigating manipulation of precious metal prices. UBS will take appropriate action with respect to certain personnel as a result of its ongoing review. The last time the CFTC did an “in depth” investigation of manipulation in precious metals, it found – nothing.

Chinese Physical Gold Demand YTD 369t Up 51 % Y/Y

Compared to last year, the Chinese gold demand is up 51 % over the same period – China is on schedule to establish a new record, if the world can supply any more gold. The longer this insatiable demand continues the more I start to ask myself where this gold is coming from.

How Gold Price Is Manipulated During The "London Fix"

We are delighted that none other than Bloomberg has decided to break it down for everyone, as well as summarize all the ways in which just this one facet of gold trading is being manipulated – Anyways, nothing wrong with a little gold manipulation here and there.

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