RSSCategory: Category: Physical Market

Cracks Spread in the Bullion Banks’ Price Management System

Cracks Spread in the Bullion Banks’ Price Management System

Department of Justice prosecutors charged a sixth JPMorgan executive for cheating in the precious metals markets. Jeffrey Ruffo stands accused of racketeering and spoofing metals prices from 2008 – 2016, along with other crimes including conspiracy to commit wire fraud. The indictment outlines nearly a decade spent coordinating with other traders in JPMorgan’s precious metals department to rig prices. The activity includes thousands of fraudulent trades placed for two purposes. The first was to benefit favored JPMorgan clients at the expense of other investors. The second was to benefit JPMorgan and the traders directly by cheating their own clients. The investigation is ongoing, and more indictments, including charges against traders at other […]

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DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets

DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets

Impeachment circus lows and stock market highs dominated the news cycle this week, and precious metals are quietly attempting a recovery. Bulls still have some work to do to repair the technical damage inflicted on both metals during last week’s selling. Gold and silver still face some overhead resistance and the potential for concentrated short selling by financial institutions in the futures markets. Significant price bottoms are usually reached after the commercial sellers force the speculative longs to capitulate. We certainly saw some of that last week. Whether there is one final washout ahead remains to be seen. Futures market manipulation of precious metals prices remains an obstacle to free […]

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Congressman Prods Attorney General on Gold, Silver Trading Questions Ignored by CFTC

Congressman Prods Attorney General on Gold, Silver Trading Questions Ignored by CFTC

A U.S. representative who has been pressing the Treasury Department, Federal Reserve, and Commodity Futures Trading Commission (CFTC) with questions about the gold and silver markets has asked Attorney General William P. Barr to try intervene and get answers from the commission. In a letter dated November 1 and made public today, the U.S. representative, Alex W. Mooney, Republican of West Virginia, commends Barr for the Justice Department’s recent criminal prosecution of manipulation in the monetary metals futures markets. But Mooney calls attention to the explosion in use of a mechanism called “exchange for physicals” for settling metals futures contracts in the United States, a mechanism that, Mooney contends, may […]

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New Evidence Futures Markets Are Built for Manipulation

New Evidence Futures Markets Are Built for Manipulation

The recent price smash in precious metals is frustrating for goldbugs. It is even more infuriating for those who look at the fundamental reasons to own gold and silver and see prices falling anyway. That’s why it’s worth explaining once again the real purpose of the futures markets, where prices are set. Some recent revelations about Bitcoin futures will help. The CME launched a Bitcoin futures contract in December of 2017, and many cryptocurrency fans cheered. Those who cheered expected “institutional” money to pour into Bitcoin. Their mistakes were in assuming the institutions would be making long bets on Bitcoin and the futures market would be free and fair. At the […]

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Warren Charts Wealth-Raiding Warpath to the White House

Warren Charts Wealth-Raiding Warpath to the White House

Despite the gravity of an impeachment inquiry that threatens to bring down the presidency of Donald J. Trump, markets have largely shrugged it off. The reason? Odds of a two-thirds majority in the Republican-controlled Senate voting to remove Trump from office are slim. What has Wall Street more concerned are the rising odds of Elizabeth Warren becoming the Democrat nominee for president. Her surge (and Joe Biden’s weakness) in the polls may have even contributed to some of last week’s stock market volatility. The Democrats’ 2016 nominee, Hillary Clinton, was a status quo candidate who had the backing of billionaires, bankers, and big tech. Warren, on the other hand, worries […]

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Be Smart When You Buy Gold Or Silver

Sо аrе уоu lооkіng tо buу gоld аnd silver? Thіѕ іѕ a ѕmаrt сhоісе mаnу реорlе аrе mаkіng tоdау gіvеn thе есоnоmіс unсеrtаіntу thаt global markets fасе. And іt dоеѕn’t lооk lіkе thіngѕ wіll gеt bеttеr аnуtіmе soon. Wіth thе United Stаtеѕ lоѕіng іtѕ AAA сrеdіt rating fоr thе fіrѕt tіmе іn hіѕtоrу аnd thе huge аmоunt оf dеbt іt іѕ іn, 15 trіllіоn аnd counting, thе US dollar іѕ сеrtаіnlу dооmеd tо disaster. Debt іѕ ѕо оut оf соntrоl thаt thе US саnnоt еvеn рау іntеrеѕt оn іt! I bеlіеvе wе wіll ѕооn ѕее thе US dollar bеіng rерlасеd аѕ thе world’s reserve currency. Tо mаkе mаttеrѕ worse, аll […]

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The Case for Gold Keeps Getting Stronger As Negative Interest Rates Spread

The Case for Gold Keeps Getting Stronger As Negative Interest Rates Spread

The world has truly entered uncharted waters with negative interest rates spreading so far and wide. Frank Holmes, CEO of US Global Investors, recently noted that a whopping 25% of all bonds sold globally now carry a negative yield. “Investors” are even buying some “junk” rated bonds which will repay the bearer less than purchase price upon maturity. Now European banks, who have been absorbing the European Central Bank’s 0.4% charge to hold deposits, are throwing in the towel and getting ready to pass those charges on to clients. Wealthy depositors at the Swiss bank UBS will soon start paying the bank 3/4 percent to hold cash balances above 2 […]

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Like Jeffrey Epstein, Bullion Banks Get Sweet Deals from the Justice Department

Like Jeffrey Epstein, Bullion Banks Get Sweet Deals from the Justice Department

First, a bank’s commodities trading department takes metals investors for a ride like unwitting victims in the back of Jeffrey Epstein’s “Lolita Express.” Now federal prosecutors have extended the same sort of cozy non-prosecution agreement to shield the bank itself from a criminal indictment. Federal prosecutors signed a non-prosecution agreement in June with Merrill Lynch Commodities, Inc. (MLCI) and Bank of America (Merrill’s parent company) for rigging the precious metals markets. The U.S. Department of Justice (DOJ) found gold and silver traders working at Merrill Lynch had “schemed to deceive other market participants by injecting materially false and misleading information into the precious metals futures market.” The agreement references “thousands […]

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Financial Media Elite Defensively Bash “Useless” Gold

Financial Media Elite Defensively Bash “Useless” Gold

At least the Financial Times now has come clean about its hostility to gold – as well as to free markets and elementary journalism. Gold Anti-Trust Action Committee (GATA) friend Chris Kniel of Orinda, California, sent to the newspaper’s chief economic columnist, Martin Wolf, the excellent summary of gold and silver market manipulation just written by gold researcher Ronan Manly. Wolf replied derisively and dismissively: “This is a matter of absolutely no importance whatsoever. Who cares about the prices of useless metals?” Stunned by such a counterfactual assertion, Kniel prompted Wolf to elaborate, receiving this from the FT columnist: “I mean to dismiss the whole monetary history of gold. It […]

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Mining Stocks Flash Powerful Signal for Gold and Silver Markets

Mining Stocks Flash Powerful Signal for Gold and Silver Markets

The second half of the year is setting up favorably for the precious metals sector, which was led in the first half by gold and gold mining stocks. Of course, the Wall Street-beholden financial media is largely ignoring metals and mining – preferring instead to give celebratory coverage to every move toward new highs in the Dow and S&P 500. “The Dow Jones Industrial Average rallied 7.2% this month [June], notching its best June performance since 1938,” CNBC reported. “The S&P 500 posted its best first half of a year since 1997, soaring 17.3% and reaching an all-time high.” That’s all well and good for conventional index investors. But they are missing […]

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Love. Fear. Inflation. A Precious Metals’ Trifecta

Love. Fear. Inflation. A Precious Metals’ Trifecta

By David Smith, Money Metals Exchange Going forward, there are – and will continue to be – three primary drivers of global physical gold (and silver) demand. During certain times in the past only one or two of these elements provided most of the momentum. However, as we move into 2019, and for possibly the next 5-10 years, all three will be in play. They will operate synergistically to consistently motivate increased precious metals’ buying around the globe. This will happen, even as meeting that demand with sufficient new supply becomes problematic. The term “synergistic” is used here on purpose. By definition, it relates to “the interaction or cooperation of […]

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The World Gold Council (WGC)

The World Gold Council (WGC)

The World Gold Council is an non-profit organization of the world’s main gold producers. The WGC was established to help improve the global demand not just for gold but also to increase interest in gold, and plays a very big role in maintaining today’s gold industry. The WGC headquarters is located in London.  It covers the market that holds almost three-fourths of the worlds gold consumption. The main objective of the WGC is to maximize the potential industrial growth of gold consumption by monitoring and defending its existence. The WGC also researches and develops other uses for gold. The organization’s main objective is to trigger and retain the demand of […]

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What Affects the Price of Gold

Gold has been known to be the most desirable metal on earth. Although it is the most precious metal, there are some issues that gold is facing like its demand and supply imbalance. Gold has been used as an investment and a useful product in electronics, but there are also some factors that affect the price of gold. One of the biggest factors that affect gold’s price is its amount of supply in the central banks around the world. In 2003 the stock of gold was about 33,000 metric tons, accounting for nearly 25% of all the gold mined in the world. In the same year, 3,200  metric tons of […]

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When to Sell and When to Buy

Gold is always a sought-after asset. Not only does it diversify your investment portfolio, but it also helps you gain ground in creating your very own hedge against an economic crisis that might occur while owning the asset. For newcomers, gold has always been hard to understand. The market fluctuates in such a way that sometimes it can become unpredictable. And so many other factors affect it as well. Some of these could be the political standing of the country, the economy, the oil markets, the scarcity of gold itself, the demand for the product and so much more. But fret not.  We have compiled a list of things you […]

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