Barclays Fined For Manipulating Price Of Gold For A Decade; Sending "Bursts" Of Sell Orders
 

"It was almost inevitable: a week after we wrote "From Rothschild To Koch Industries: Meet The People Who "Fix" The Price Of Gold" and days after "Barclays' Head Of Gold Trading, And Gold "Fixer", Is Leaving The Bank", earlier today the UK Financial Conduct Authority finally formalized what most in the "tin-foil" hat community had known for years, when it announced that it fined Barclays £26 million for manipulating "the setting of the price of gold in order to avoid paying out on a client order." Furthermore, the FCA confirmed that those inexplicable gold raids which come as if out of nowhere, and slam gold with a vicious force so strong sometime they halt the entire market, had a very specific source: Barclays, whose trader Daniel James Plunkett, born 1976, "sent out a burst of orders aimed at moving the price of the yellow metal."

Continued http://www.zerohedge.com/news/2014-0...ts-sell-orders

Sorry tinfoil nutters but barclay's shenanigans have been public, and news for over a decade:::::::::::

The Financial Conduct Authority said on Friday there were failings at Barclays from 2004 until 2013, but the key event occurred on June 28, 2012, a day after UK and U.S. regulators fined it $450 million over attempted Libor rigging.

Actually its a hardcore gold bugs that have been claiming that there was fraud and manipulation in the GOLD & SILVER markets for many, many years........ and their claims have always been rubbished.

Now, BAfin (Germany regulator) had made a claim about manipulation and its clear that the price was being suppressed in many ways. Barclays has been found guilty and fined and there are others to come.

By the way, you may be aware the 119 yr old LONDON SILVER FIX has been axed:

http://uk.reuters.com/article/2014/0...0DU0IS20140514

It is possible, the same is going to happen to the LONDON GOLD FIX but there is a lot of investigation still underway....

This is much better and well written for those who are interested....

http://www.bloombergview.com/article...pulating-libor

finally

8char