Should we surprised? It failed miserably once again though....as usual! SMF069
Dimitri Speck: A high-frequency attack on gold
Submitted by cpowell on Thu, 2012-08-09 20:39. Section: Documentation
4:33p ET Thurday, August 9, 2012
Dear Friend of GATA and Gold:
Market analyst and GATA consultant Dimitri Speck today publishes at Safe Haven a study of what he concludes was a high-frequency trading attack on the gold futures market on June 7 that drove the price down $20 in two minutes. Speck concludes:
"Although in the past central banks repeatedly intervened in the gold market, it is unlikely that this action was done by a central bank. In the field of high-frequency trading, the technical complexity and the necessary level of experience and specialization are probably too high. Therefore, a private financial institution must have done the high-frequency price manipulation to achieve a trading profit. This was a well-defined incident in thin trading, limited to a short time period and to a single market. These conditions make it ideal for a successful investigation by the regulatory authorities."
Maybe the U.S. Commodity Futures Trading Commission will look into the incident when it finishes with its investigation of the silver market -- or when Hell freezes over.
Speck's analysis is headlined "A High-Frequency Attack on Gold" and it's posted at Safe Haven here:
