Gold Spoofing- JP Morgan
JP Morgan settled a US$920 million fine with the US authorities last week on charges of precious metal(gold) price manipuation by the use of the spoofing method.
Spoofing entails putting in fake orders in the markets to buy or sell and then withdrawing them before they are executed with the intention of moving the price.
Regulatory changes are likely to follow and hopefully this will allow Gold and Silver to be traded with the expected free market movement of their prices.