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 continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

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 keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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