Class actions concerning manipulation of the precious metals market

Class actions concerning manipulation of the precious metals market

The Federal Reserve News Agency Hilson Rattle said that the Fed’s position in the statement indicated that its earliest time to raise interest rates was June 2015. Investment predator Bill Gross believClass actions concerning manipulation of the precious metals marketes that the Fed will symbolically raise land interest rates by 25 basis points around June this year.

The more you are crazy, the more you should be careful. An industry insider believes that the violent rise in the price of gold is inseparable from the short-term phenomenon caused by European sovereignty and US debt problems and the aftereffects of various financial crises. If such a tipping point does not continue to appear in the later period, gold will not be far from the last crazy days. Statistics show that during the adjustment in April this year, the price of gold has experienced a sharp drop, and the price of gold fell more than US$100 in a short time. Analysts believe that the biggest risk in the market now is that most investors reach a consensus on the continued rise of gold. A sharp drop in gold often causes huge losses for investors, causing market chaos and irrational selling. In this regard, ordinary investors should be vigilant.

However, due to the decision of the European Central Bank to help Greece solve the debt problem, market optimism has obviously recovered, the exchange rate of the US dollar against the euro fell during the intraday session, and the sharp rise in crude oil prices strengthened the attractiveness of gold as a hedge against inflationary pressures, boosting the gold futures price at the close. It rebounded and closed with a slight increase.

2. The latest series of economic data released by Europe continues to show signs of sluggishness. Italy's second-quarter gross domestic product (GDP) initial quarter rate fell by 0.7%, which was higher than market expectations of 0.6%; Greece’s unemployment rate rose to 23.1% in May, a record high; Germany’s June seasonal adjustment of manufacturing orders The monthly rate fell 1.7%, which was greater than the 1.0% expected.

Judging from the current market conditions, the market will enter a critical moment that is very sensitive to news. Once the United States publishes economic indicator data related to these two major suspenses, or economic data that has a certain correlation with these economic data, and Federal Reserve officials publish The market will fluctuate violently when a few words are spoken. This week the market will enter a critical battle phase, that is, the Fed will hold an interest rate decision-making meeting. The actions of Fed officials at the meeting and the few words in the statement after the meeting will affect the hearts of the entire market.

However, whether JPMorgan Chase’s self-operated department uses the vault to run a large-scale short-selling of gold still needs direct evidence. A traderClass actions concerning manipulation of the precious metals market in the precious metals department of a domestic bank bluntly stated that even if investment banks manipulate gold arbitrage, they still use complex gold forward put options and other derivative trading tools. To achieve the goal, the whereabouts are often secretive.

We think that after this wave of gold prices hit a new high, it is likely to rush to $1,600. Industry insiders suggest that for investors who can't wait for a mobile phone meeting, it is better to find a selling point instead of looking for a buying point. It is better to buy gold in hand and wait until a good price to sell. It is understood that after many customers have recently bought gold bars, they didn't mention them at all. After the price of gold rose to a certain level, they made a phone call and sold the gold directly, and the investment income was directly settled.

Federal Reserve Chairman Ben Bernanke said in a speech at the Brookings Institution on Thursday that forward-looking guidance and debt purchases have already played a role. Most studies have shown that quantitative easing has at least some effect. The Fed has many tools. Manage interest rates and tighten policies as the balance sheet expands. Fed officials have pointed out that the main risk brought about by policies is that they may cause financial market instability, but they will not distort policies in order to directly address financial stability concerns, and the need for easing policies should not be reduced due to financial stability concerns.

The price of gold fell after four consecutive trading days of rising. Before the opening of the New York market on the 26th, the spot gold price fell by US$7.40 per ounce to US$1518.40, a decrease of 0.5%; at the same time, the spot silver price fell by 98 cents to US$36.92, a decrease. 2.6%. But analysts said that the price of gold will not fall sharply.