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

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.


No comments yet! Be the first to add yours.