Banks sued over gold price manipulation

New York resident Kevin Maher files suit against the five banks who set the London gold fix each day, accusing them off price manipulation. The five: Deutsche (DB), Barclays (BCS), Scotiabank (BNS), HSBC, and SocGen (SCGLY).

The setting of the benchmark occurs twice a day in a teleconference through something resembling open-outcry. There are, of course, a number of investigations ongoing about illegal manipulation, and an academic study has found what it deems to be good evidence of collusion in the afternoon fix.

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Comments (4)
  • DeepValueLover
    , contributor
    Comments (11312) | Send Message
    I remember when people made fun of "gold bugs" and their "crazy conspiracy theories" about gold price manipulation.


    Oh well, its nice to be vindicated!
    5 Mar 2014, 10:41 AM Reply Like
  • Jake2992
    , contributor
    Comments (1128) | Send Message
    Anyone can sue anyone over anything...Save the chest thumping for actual evidence.
    5 Mar 2014, 10:58 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11312) | Send Message
    Yeah...I's just a "conspiracy theory".


    5 Mar 2014, 05:07 PM Reply Like
  • Bschlick
    , contributor
    Comments (2) | Send Message
    Yea, and Oswald killed Kennedy... Right?
    12 Mar 2014, 05:20 PM Reply Like
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