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Now even Reuters acknowledges gold market rigging ....
... but like all news services Reuters may need another few hundred years before it questions any central bank about its surreptitious trading.
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Bullion Dealers Trade Blame in Hunt for 'Bear Raid' Leader
By Manolo Serapio Jr. and Ruby Lian
Reuters
Thursday, July 23, 2015
As the global bullion market continues to reel from a dramatic plunge in gold prices on Monday, traders from Hong Kong to New York are pointing the finger at others for being behind the move while struggling to unmask the mystery sellers.
In early Asian trading hours on Monday, investors dumped more than $500 million worth of bullion in New York in four seconds with selling occurring almost simultaneously on Chinese markets.
... Dispatch continues below ...
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The sheer scale of order flow across both the Shanghai Gold Exchange and the Shanghai Futures Exchange -- where combined volume for the day surpassed the notional equivalent of 250 tonnes -- led many market trackers to speculate that fleet-footed Chinese hedge funds were behind the move. ...
"That move was aggressive manipulation. Somebody clearly wanted the market lower and timed it very well," said a gold trader at a bank in Hong Kong, who saw parallels with the way funds have been linked to swings in copper. ...
A London-based trader with an investment bank agreed the lead seller might not be from Asia. "The selling was on Comex and could also be a non-Chinese fund just executing in what they thought was an illiquid timezone to get the biggest move," the trader said. ...
... For the remainder of the report:
http://www.reuters.com/article/2015/07/23/markets-gold-rout-blame-idUSL1...
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