Real: Manipulation of gold and silver prices
Scotiabank traders have manipulated precious metal prices. The bank has admitted this. Scotiabank reacted with a symbolic fine. So it's not about conspiracy theories, it's about reality. Interest or currency markets are also affected again and again. The Scotiabank had to loosen 800,000 US dollars for manipulations on the gold and silver market, the punishment was pronounced by the US Securities and Exchange Commission.
Technically, the manipulation takes place, for example, when traders place orders in the trading system and withdraw them shortly before execution. A non-existent demand directs prices in this way. As the Scotiabank itself reported the manipulations and showed itself willing to cooperate, the punishment was mild.
The procedure was similar recently at Deutsche Bank, or more precisely at Deutsche Bank Securities. Here, however, 30 million US dollars flowed as a fine. Here, too, traders manipulated the prices. These are just two examples of how things are manipulated and then cleaned up with symbolic fines.
Investors do not benefit from the fines, or at least not directly. Namely to the extent that, hopefully, less manipulation will take place in the future. Because supply and demand count without manipulation. Rising gold and silver prices should then delight investors, for example when investing in gold companies such as Nordic Gold or TerraX Minerals.
Nordic Gold - https://www.commodity-tv.net/c/search_adv/?v=298622 - began mining at its Laiva gold mine in Finland at the beginning of August. The mine is fully constructed and approved. Nordic Gold recently received written approval to start operations at the earlier producing mine. And the first gold pouring is to take place on 27 November. An estimated 67,000 ounces of gold are expected to be produced in the first twelve months.
TerraX Minerals - https://www.commodity-tv.net/c/search_adv/?v=298245 - is still quite far away, but well on the way to advancing its Yellowknife City gold project, located in the Canadian Northwest Territories. To better delineate potential gold mineralization zones, airborne surveys were conducted on the 780 square kilometre property.
Latest company information and press releases from Nordic Gold (https://www.resource-capital.ch/en/companies/nordic-gold-corp.html) and TerraX Minerals (https://www.resource-capital.ch/en/companies/terrax-minerals-inc.html).
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