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JPMorgan settled a $920 million fine with UNITED STATE authorities on costs of rare-earth elements rate manipulation last week. This is considerable due to the fact that rumors and supposition about steels manipulation is verified in such a huge profile instance for the first time, said Will Rhind, CEO of GraniteShares.
" Throughout my profession, there have constantly been these kind of mutterings of adjustment of the gold market. A lot of people that were speaking about that were truly crossed out as fringe or conspiracy theorists [with an] extreme view, as well as those individuals have been right," Rhind informed Kitco Information.
Spoofing requires placing in phony orders in the markets to get or market and after that taking out those orders before they are carried out with the intent of relocating the cost.
0:00 – JPMorgan spoofing instance
4:28 – GraniteShares HIPS United States High Income ETF
8:22 – Platinum price overview
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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
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
