Tag Archives: precious metals

UBS given immunity in precious metals manipulation probe

UBS precious metals manipulation

UBS Group AG won immunity from criminal fraud charges in a Justice Department investigation into misconduct in the trading of precious metals. The Swiss bank’s main UBS AG unit won’t be charged by the department’s criminal division for information the firm disclosed to prosecutors about precious-metals transactions, according to the ...

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Russia buys 900,000 ounces of gold worth $1.17 billion in April

Swiss gold

The Russian central bank has again increased its gold reserves by another 900,000 ounces worth $1.17 billion in April. Russia’s gold reserves rose to 34.4 million troy ounces in April, from 33.5 million troy ounces in March, the Russian central bank announced on its website yesterday. The value of its ...

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London’s silver price fix to end after nearly 120 years

London city pic

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says“), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing ...

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The gold price manipulation article the Financial Times removed

Financial Times gold

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 ...

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Gold and silver price manipulation becoming more blatant

Gold and Silver manipulation

For the 3rd day in a row, precious metals have been monkey-hammered lower in the first hour of trading on the US markets… no news, no headlines, no technicals – just good old-fashioned $10 cliff-dives in gold…   In Aug 13-15th, 2012 silver finished on the exact same price three ...

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Gold: Comex paper vs. Shanghai physical

Shanghai gold exchange

Chinese gold demand, from both individuals and central banks, garnered increasing attention as the gold price rose consistently in the last twelve years. When the gold price declined, many in the West declared the end of gold, but China (along with many other Asian nations) defiantly continued to buy gold and ...

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Gold’s bull market…it’s only just begun

gold

Gold jumped up on the eve of the U.S. election. It seemed to be looking beyond… and indeed it was. Gold continued rising as the attention then turned to the fiscal cliff and escalating tensions in the Middle East. The markets have been focusing on the next major problem. The ...

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