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Jesse's Café Américain: Gold Daily and Silver Weekly Charts - CFTC Finally Does Something About Market Manipulation

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - CFTC Finally Does Something About Market Manipulation | Gold and What Moves it. | Scoop.it
From jessescrossroadscafe.blogspot.com - February 7, 5:02 PM

Intraday commentary about that very clumsy Dr. Evil style hit on the open of the gold market here.

Speaking of the CFTC, it appears that those fine fellows have finally done something about the obvious and blatant manipulation that all too often plagues the futures markets in commodities.

That's right, the CFTC is joining a defense motion to dimiss the $30 million fine levied against the Amaranth trader who was caught manipulating the natural gas market. Why?

Because the CFTC and the defense contend that the Federal Energy Regulatory Commission should not be investigating market manipulation in futures, because not doing anything about it is within the jurisidction of the CFTC.

Hey, nobody can touch our crooks but us, and we're too busy and understaffed to do it. Now that's industry friendly! ...

Hal's insight:

Click through for the full post. All I can say is, Wowsers! Good grief, it's getting blatant and in your face.

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Peru 2012 mineral exports shrink 1.7% on Gold

From www.bullionstreet.com - February 12, 2:50 PM
Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

LIMA(BullionStreet): Decrease in gold exports trim overall mineral exports of Peru by 1.7 percent last year.

 

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

In December last year, country's gold exports took a 35.2% dive in December from $191mn in 2011 to $124mn last year.

 

The lower gold exports contributed to the 18.7% drop in overall mineral exports in the last month of 2012.

Hal's insight:

Hmm... This is interesting. I wonder what this will hold for gold demand?

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