For decades, the daily gold price was set by just five banks on a private phone call -- a process ripe for abuse. Researchers found 'unusual trading patterns' consistent with manipulation around the 3 PM London fix since at least 2004. In 2014, Barclays was fined for a trader who manipulated the fix to avoid a $3.9 million client payout. Deutsche Bank paid $60 million and the five fix-setting banks paid $152 million in total settlements. The century-old fixing process was replaced in 2015.
The London Gold Fix was manipulated for over a decade by the banks that set the daily price
βThe daily London Gold Fix is being manipulated by the small group of banks that control the price-setting process, suppressing gold prices for their own benefit.β
π The Receipts
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The Claim Is Made
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Confirmed: They Were Right
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Confirmed: They Were Right
The truth comes out. Officially documented.
π How Right We Were
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