Dear CFTC: Here Is Today's Illegal "Spoofing" In Gold Futures

Tyler Durden's picture

Dear CFTC,

It's us again and as promised, we're here to lend you a helping hand in your very serious quest to eliminate all vesitges of illegal manipulation from our beloved markets. Today, we bring you 3 examples of spoofing in gold futures which, you'll note, aren't difficult to spot if one is willing to expend the tiniest effort. 

Without further ado, here (courtesy of Nanex) are several examples in the June 2015 Comex Gold Futures this morning. All times are Eastern Daylight. In each of these cases, no trades (or a tiny few) executed against the large "spoof" order. You can see how prices were influenced by the sudden appearance (and disappearance) of these large, outsized orders.

1. June 2015 Comex Gold

Note how large buy and sell orders push prices up and down.

2. Another set of instances appear about 50 minutes after the first set (shown in chart 1).

3. Another set of spoofing instances appear about an hour after the second set (shown in chart 2).

You're welcome CFTC — it's the least we can do.

Best wishes,

Zero Hedge

Reminder: We won't stop this until you are forced to address the glaring hypocrisy and utter incompetence of everyone involved in the regulation of market microstructure.

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Deathrips's picture

Look at all that digital gold ...i cant eat.


Stack on!!



BuddyEffed's picture

Please look for Twitter spoof on the morrow.

back to basics's picture

ZH should have photoshopped some 36D tits into that chart, it's the only way it would get their attention. 

AIIB's picture

The CFTC only gets turned by prepubscent penises

BuddyEffed's picture

I can see this HFT spoofing analysis morphing into a weekly guest poster thing, while everybody and their brothers use the comments for their own conspiracy theories and rationales for specific stocks.

Am still looking for an update/status/fond memories about CYNK too.

Ballin D's picture

Tyler, if this is going to be a daily thing, keep accruing links of prior day's posts somewhere prominent with an indication of 'not prosecuted' vs 'prosecuted' to highlight the long run hypocracy.

seek's picture

There have been many instances that provide proof that ZH is watched by TPTB or faux regulating authorities, and sometimes the site is even mentioned by name, or like Prince, by the euphamism of "a fringe investment blog." As these asshats like to feign incompetence and use a lack of knowledge of wrongdoing as a cover, ZH pointing out stuff like this backs them into a corner because the lose the ability to deny.

So they are listening, and they do care, but for the wrong reasons (getting caught rather than doing their job.)

Nage42's picture

Actually, it's quite more likely that the concept of "acclimatisation" is at work here.  It is important to have the naked and nasty truth presented in a clear and rational way, so that gradually as it becomes mainstream, it can be pointed out as not a new revelation, thus people have sort of "eased into the outrage."

So it's like you start with raving lunatics (people who quite possibly have a valid point but can't enunciate it well: think the guy with his willy hanging out of his rat-infested pants) reaching a very small audience that "the government will take everything from you... and infect you with mind-control juices!!!!11!!one!"

Proceed to quite eccentric people (who definitely have a point, but can't present themselves well due to poor public speaking technique, tonality, or public perception, the likes of: Bill Murphy ala GATA's case to CFTC, or Max Keiser when he’s excited… they are just unpleasant to listen to… or Jesse Ventura, although I like his stuff, I can see how an average person would write him off as a “blowhard bully”), where specific/relevant information is presented, but the subtleties cannot be picked up by the layman easily, or there are jumps in the logic chain that a person familiar with the topic can follow, but that a layman cannot consciously or clearly see the links (their subconscious mind will link it later).

Next you bring in someone who is really quite “normal” and presentable to bring in the topic in a way that is clearly, solidly presented, showing the whole shooting match (i.e., Chris Martenson of Crash Course, or Ron Paul 10 years back when he’s talking about the FED), so that calmly, clearly, and comprehensively the topic is presented in a way that a layman cannot but see

So the next step is that there is paradigm change in response to this topic, right?!?  Wrong.  It has been brought forward in a structured way so that slowly and carefully the layman can realise that not only “is this the true case,” but that “and it’s been this way for a LONG time!”  This is a process wherein the average man can be fed something intolerable in a way that he can tolerate it… so that he can take it in as “this is just part of the environment that you have to get with and move on.”


Of course there will be a small number of individuals that will bypass their subjective bias of not liking the personality/presentation of the speaker up at the “eccentric” stage, and make personal change, but it’s not how public opinion is converted into ground-swell action.  I’m pretty sure the elements of society that are interested in having things continue in the status quo are more than familiar with this dynamic and shepherd it along so that mainstream can be held to the script and acclimatise to their role in towing the line…



Just my 2 cents worth.



Pool Shark's picture





Oh, that's so 'last year.'

[Unless, you're Jim Cramer, who probably went down holding thousands of shares...]


Move along; nothing to see here...



actionjacksonbrownie's picture

Now let's see last Friday's slamdown chart as Citi was finalizing it's agreement with Venezuela and paying a little over $700/oz. for Venezuela's gold.


And just how much of that "illegal manipulation" was courtesy of Citi?

RaceToTheBottom's picture

I am sure the goal was just to provide liquidity.

These are reputable WS firms we are talking about, here.  You don't think that anything underhanded is going on, do you?

ZH Snob's picture

Tyler is the CFTC's best friend.  but do they even send a Christmas card?

raywolf's picture

i put in the max sell order 2 points above the S&P E mini - every day to protest this CFTC nonsense.....



legend247's picture
legend247 (not verified) SandiaMan Apr 29, 2015 3:00 AM

Since I started freelancing I've been bringing in $90 bucks/h… I sit at home and i am doing my work from my laptop. Th? best thing is that i get more time to spent with my family and with my kids and in the same time i can earn enough to support them... You can do it too. Start here...

Blano's picture

Oh dear God not you again......


LawsofPhysics's picture

LOL!!!  I am sure they will get right on this...

All animals are created equal, it's just that some animals are "more equal" than others...

Chuck Knoblauch's picture

It will continue until China stops it.

I hope China takes every ounce from the Vatican's vaults at these prices.

fleur wriggley's picture

right on !!!!!!!!!!!!!!!!!!!!!!

ronron's picture

thanks for the help. sincerly Bart.

Pancho de Villa's picture
Pancho de Villa (not verified) ronron Apr 28, 2015 4:02 PM

Whatever happened to that Chilton fella'? Thought he was gonna ride in like the Lone Ranger, and get his ass kicked... lol

RaceToTheBottom's picture

He went to a HFT firm.

Sold out like a politician.

Colonel Klink's picture

He revealed himself to be a cocksucker like all the rest of them.

czarangelus's picture

You guys are actually sending them this evidence, certified mail, and keeping a copy and the receipt, right?

ronron's picture

GATA has been screaming for years. it's fucking fun to see it in real time daily at the hedge. they got it. oh ya.

GRDguy's picture

Let's see:  GATA has been tryin' to point out the gold/silver manipulations for 15 years. That in itself shows just how important gold and silver are to the powers-that-be.

It took 10 years of SEC ignorance before the fall of Madoff.

It took 5 years of silence to keep what Sarao was doing from becoming pubic, thus showing how JPMorgan, Goldman-Sachs and the other were lyin' and stealin' electronically.

Maybe we're making some progress.  Nah.  Sometimes The Dragon Wins.

Nage42's picture

Nail hits head.


If someone has "passionately been trying to do something for 15 years," and not actually achieving something, then we can say that their goal is not to achieve something, but to be percieved as someone who is trying passionately...

Change your inputs and methods until you get the outcomes you want.

I mean really... how hard can it be for an investigator that knows how to socially engineer and do real ground work to get inside and get actual forensic-quality evidence that would hold up in a class action suit?

I'm being honest here... if after more than _2_ years (let alone 15!), if a group is not achieving it's suppose charter, why hasn't new leadership been appointed in an effort to actually achive, rather than sustain the same methodology that has [QED] failed to achieve an outcome?

Is it not fair to demand results from people?

ronron's picture

and if the Durdens put it up? you got mail. forever. ha.

GRDguy's picture

Another reason for the constant manipulation of gold and silver is not only to subsidize Apple and other high-tech companies that use gold and silver (at the expense of the mining industry), but like a gasoline gauge in your car that bounces around 1/4 full, the sociopaths don't want you figuring out that you're about to sputter out.

agent default's picture

So someone is learning from Sarao?  Time for CFTC to play whackamole.

dcohen's picture

Wonder if there is any spoofing for Twitter - shares have plunged 22 % after trading halt.

ZH Snob's picture

I doubt it.  everyone is finally realizing how useless Twitter really is.

Bastiat's picture

Yeah that had a big miss.  Maybe there's concern about them making money.  I can't believe I said that.

Weaponized Innocense's picture
Weaponized Innocense (not verified) Apr 28, 2015 4:21 PM

(((- -)))

orangegeek's picture

Dear CFTC,


You do fuck all.

Signed, the Market


Dear CME,

Fix your shitbag exchanges and stop this fucking fraud, just like you did last September when you ended HFT.

Signed, the Market

NoWayJose's picture

Look up any and every email address on the CFTC web site - and forward these every day.

orez65's picture

"We won't stop this until you are forced to address the glaring hypocrisy and utter incompetence of everyone involved in the regulation of market microstructure."

THANK YOU ZERO HEDGE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Herdee's picture

I don't know why the morons at the CFTC can't use the NSA to find out the truth.But then again there might be a good reason for not wanting to find it.After all,it's gold.

RMolineaux's picture

Tax the bastards !

Born2Bwired's picture

Thanks keep it up! Eventually something will happen...

The Duke of New York A No.1's picture

Who cares about Gold futures manipulation ...... I just wanna know who does Bart Chiltons hair dammit!

venturen's picture

I got it....Spoofing is like the ultimate Cock Tease!

venturen's picture

A nail gun truck is likely to run into the nanex facility!

booboo's picture

Next up, a law forbidding the use of public information by a private serf or collection thereof to tease, cajole, make fun of, laugh at, fart in general direction or any other thing used in an effort to embarrass a public regulator, official, King, Queen, Prince of the America.


You probably think I am kidding.

DoolieDoink's picture

Does anyone know how large or how many tons have to be sold to do this ?

Quinvarius's picture

None for spoofing, unless your orders are too slow or entered wrong, and someone actually takes you up on your offer.  The gold lost is from people who think the price is real and should be transacted at.  The end result is a faster transfer of gold from ignorant to knowing.  The faster the better.  When every last ounce is sold low, thanks to this stupidity, the market will find a price much higher than it should and all at once.

Seasmoke's picture

Viva ZeroHedge !!!!

essence's picture


Next time, CC Martin Armstrong & Doug Casey.
They're slow learners.