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Barclays Caught Red Handed Manipulating Gold - Keith Weiner - Monetary Metals

This is another very good article by KW and one cannot argue with the data.

I once asked my broker at MF Global if I could take gold delivery and was told NO they only settle in cash.
I assume i would get the same answer had I asked if I could take delivery of 40,000 lbs of cattle.

Is it true in the great casino of futures markets that nobody takes/makes delivery of anything even though its a contract to do so?
"What if the banks are merely arbitrageurs ?" asks KW. Good question

What if they are spreading long one month and short another month in the same commodity for e.g…. or maybe long(1) gold /short (2)silver in different months and merely trading the price differences.
That is, smash (sell) 2x multiples of 5000 oz silver and buy 1 multiple 100 oz gold (equalising tick values).

I will have to give it more thought. Ideas anybody?
NB when you step into the futures market you better well know what you are doing

Commented 3629 days ago

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Beginning of the headline :It was all over the news last week, both mainstream and gold sites. Barclays was caught manipulating the gold price. They were fined £26M, and forced to pay a client who was damaged by their action. The trader who worked for Barclays, Daniel Plunkett, was also fined and banned from working in the financial sector. Here is a link to an article at the Financial Times. This story is a big deal to the gold community. It is commonly held that the gold price should be much higher than it is today. For... Read More

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