$640 Million Gold Trade to Manipulate MarketSubmitted by TommyPaine on Mon, 10/14/2013 - 16:28
Interesting. Even CNBC is reporting this as a "conspiracy."
Someone with BIG money made a $640 million sell trade in the gold market that caused the market to halt for a short time. And this is not the first trade of this type recently.
Now, who would have the buying/selling power to move more than a half billion in gold and not care what the price was?
Federal Reserve? Goldman Sachs? JP Morgan?
"Jim Iuorio, managing director at TJM Institutional Services, sees similarities between what happened to gold Friday and what happened Sept. 12, when a big gold sale at 2:54 a.m. ET similarly caused a trading halt and hurt the market.
"'There is only one conclusion that seems logical regarding Friday's gold trade and the one from a month ago, and that's that they were designed to manipulate prices,' Iuorio said."
FYI -- Here is a post I made awhile back about manipulation in the silver market. I wonder if the manipulation of both markets are related.