CFTC to Investigate gold price plunge

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Silverbull50

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CFTC to Investigate gold price plunge

posted on Apr 17, 2013 12:41PM

(When we are talking a 4.88 standard deviation move in the price of gold Friday, followed by an eight standard deviation over the two-days of Friday-Monday in gold, with cautious optimism I’m beginning to wonder if the smash was so profound and excessive that the CFTC feels that they must address it and reluctantly, can no longer “protect” the banking culprits?)

Silverbull50

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Gold price plunge to be probed by commodity regulators: Chilton

April 17, 2013, 12:06 PM

The Commodity Futures Trading Commission may be taking a deeper look />

Bloomberg Bart Chilton, a commissioner on the U.S. Commodity Futures Trading Commission.

At least that’s the take of Democratic CFTC Commissioner Bart Chilton. Chilton told >Gold futures plunged on Monday, falling $140.30, or 9.3%, to $1,361.10 an ounce. The slide marked the precious metal’s biggest one-day percentage drop since February 1983.

Gold’s >/quotes/zigman/647778 GCM3 -0.01%has risen since then to $1,383.63 in mid-day trading Wednesday.

The CFTC http://online.wsj.com/article/SB10001424127887324077704578358381575462340.html">reportedly has been scrutinizing whether gold prices are being manipulated in London, where a handful of banks meet two times a day to set the spot price for a troy ounce of physical gold. According to a March report by the Wall Street Journal the commission is looking at issues including whether the setting of prices for gold—and the smaller silver market — is transparent.