Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US.
The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market.
The lawsuit follows similar filings in the gold price-fixing market. Continue reading
Gold and silver didn’t even begin to seriously sell off until about fifteen minutes afterthe big dollar index rally was done, so to pin yesterday’s precious metal price action on the currencies is laughable.
One of the other reasons that the sell-offs in the metal are hitting the shares so hard, is that mutual funds are feeling the effects of massive redemptions…and they have to sell whether they want to or not. The markets are very illiquid…and this just makes matters worse.
But the one big question you should be asking yourself is this…”Who is buying all these shares that the precious metals investors are selling in such a panic?” Think about it. Somebody is…and whoever they are [and I have my suspicions] they have infinitely deep pockets…and are the very definition of “strong hands”. Continue reading