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Caught Red-Handed: This Is What Zoomed In Gold Manipulation Looks Like
Now that gold manipulation is no longer conspiracy theory and has joined every other "tinfoil" narrative into the realm of conspiracy fact, we urge readers to catch up on both what was the story of the day, namely the UK regulator cracking down on exactly one (1) Barclays trader for manipulating the gold price in a way that prevented him from paying out a substantial fee to his counterparty (and also being the absolutely only person in all of Barclays and every other bank to manipulate gold, of course), as well as reading the full explanation of just how said manipulation was conducted.
Failing that, one can simply observe the following pretty charts catching Daniel James Plunkett smashing the price of gold, which apparently in the UK is called a "mini puke", red-handed in the act of what is now confirmed gold manipulation.
Courtesy of Nanex, the charts below show the active Gold Futures contract on June 28, 2012 during the London afternoon gold fixing (3pm London time, 10am Eastern Time), which is when we now know the Barclays trader intentionally manipulated the price lower.
1. August 2012 Gold (GC) Futures trades and quote spread over a 5 second period of time (10:00:21 to 10:00:26 Eastern).
The important London gold fix price was $1558.96 which is near the middle of the price on this chart. Approximately 1,100 contracts were traded during the sudden price drop.
2. August 2012 Gold (GC) Futures trades and quote spread - Zoomed out.
3. August 2012 Gold (GC) Futures trades and quote spread - Zoomed out 2.
4. August 2012 Gold (GC) Futures trades and quote spread - Zoomed out 3.
5. August 2012 Gold (GC) Futures trades and quote spread - Zoomed out 4.
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It's amazing how this Plunket guy could have manipulated gold for ten years. And I'm sure he's responsible for all the silver manipulation as well. They should really punish him and make him pay a whole million dollar fine!! Good thing we have these "regulators" to make sure no one ever commits a crime. And boy if they do and they get caught they'll lose a whole million dollars. That will stop them. Well case closed, no more manipulation in gold and silver now. The government is making sure the markets are free.
Timing? Specific evidence? Nonsense, markets are clean & free based on the full faith & credit of the NYSE, NASDAQ & the Fed.
What more can we ask for but the utmost accountability from those doing gawd's werk!
my favorite of the day is the government telling us large price increases are coming in commodities, but not from inflation, as they print billions a month to bail out their oligarch donors. This whole economy is just vapor now, luminiferous ether.
Ya'know, I myself have lost a leeetle bit of money trading silver and gold futures (way back in the old days).
I wonder if Mr. Barclays will be giving me my fucking money back?
the check's in the mail ..
It took Russia $26B in US tresuries to buy $1 billion of gold. Why do you think that is?
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