Gold price manipulation is real; JPMorgan’s spoofing case explained
JPMorgan settled a $920 million fine with U.S. authorities on charges of precious metals price manipulation last week. This is significant because rumors and speculation about metals manipulation is confirmed in such a large profile case for the first time, said Will Rhind, CEO of GraniteShares.
“Throughout my career, there have always been these kind of mutterings of manipulation of the gold market. A lot of people that were talking about that were really written off as fringe or conspiracy theorists [with an] extreme view, and those people have been right,” Rhind told Kitco News.
Spoofing entails putting in fake orders in the markets to buy or sell and then withdrawing those orders before they are executed with the intention of moving the price.
0:00 - JPMorgan spoofing case
4:28 - GraniteShares HIPS US High Income ETF
8:22 - Platinum price outlook
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