Gold News: $30M Judgement In Price Manipulation Case

Today in gold news, Deutsche Bank AG and Deutsche Bank Securities were hit with a $30M (USD) fine by the CFTC for traders’ illegal actions in precious metals markets. The CFTC found the evidence credible that traders for these firms placed futures orders with the intent to cancel them before they executed, in violation of Commodity Exchange Act and Commission Regulations.

There is always talk about whether this or that market is manipulated; in January it was the HSBC case in England, now this case with DB AG. This latest news further illustrates the answer should always be “yes, and just how it happening?” Hopefully this latest judgement will at least get manipulators to think twice; it’s hard to see how manipulation could be eliminated altogether. But one step at a time, right?

You can read more about the CFTC’s decision in today’s featured article.

 Related: Here’s How Nature Can Cut Gold Demand


About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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