Gold: CME considers price limits; Deutsche resigns from fix panel


CME Group has price fluctuation limits for many of its futures contracts, but none for its precious metals and base metals products. Concerned over investor-appetite-curbing volatility, the exchange operator is looking into daily limits.

In other news, Deutsche Bank resigns from the panel which sets the daily gold and silver benchmarks in London after failing to find a buyer for its seat. The bank's last day to take part in the fixing - which has come under scrutiny for manipulation - will be May 13.

ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, GLDI, DGL, DGZ, DGLD, AGOL, TBAR, UBG, GYEN, GLDE, GEUR, GLDS, GGBP, GLDL

From other sites
Comments (7)
  • MEKhoury
    , contributor
    Comments (402) | Send Message
     
    And this means what
    29 Apr 2014, 04:07 PM Reply Like
  • Agent Graves
    , contributor
    Comments (147) | Send Message
     
    CME Group is in damage control mode, while Deutsche is trying to flee the scene of the crime.
    29 Apr 2014, 04:19 PM Reply Like
  • rubber duck
    , contributor
    Comments (194) | Send Message
     
    CME pretending to be doing something about the thousands of futures contracts that are dumped in nanoseconds whenever gold prices show strength. Didn't help that Deutsche Bank bailed the gold fix, like rats from a sinking ship.
    29 Apr 2014, 05:00 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4382) | Send Message
     
    Trust the western markets to finally start to clean up their act when Asian markets threaten to make them completely irrelevant. Shanghai is already the exchange everybody really watches to find out what price the physical buyers are willing to pay, and Dubai claims to have 40% of the physical market already after being open only a few years.
    29 Apr 2014, 05:14 PM Reply Like
  • videomonitor
    , contributor
    Comments (3) | Send Message
     
    If the claim that the daily gold price fixing process was being manipulated for some time, does it stand to reason that the participants have refrained from further manipulation since the investigation into the process began?

     

    Either way, how would instruments linked to gold futures react? e.g. DZZ and DGP
    29 Apr 2014, 09:23 PM Reply Like
  • rubber duck
    , contributor
    Comments (194) | Send Message
     
    Being that we're talking about TBTF banks that are involved in the fix, it's possible the manipulation doesn't end until the whole thing goes up in flames. Then they ask for taxpayer money.
    29 Apr 2014, 11:21 PM Reply Like
  • ziggysdad
    , contributor
    Comments (42) | Send Message
     
    Real gold is real money, yes down 30% last year. When the paper money is worthless real physical gold is still real. Gold for me is a hedge 15% is what I hold. I have also purchased my gold over 30 years so I'm still way up. My cost is around $400 per oz.
    30 Apr 2014, 09:13 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs