Gold – A draft research paper states that unusual trading patterns around 3:00 p.m. in London show that the London gold fix may have been manipulated for the past decade.
Articles Tagged "London"
The Alternative Investment Market rose 4.91 points, or 0.59 percent, to 841.3 points today. It reached a high of 842.71 and a low of 836.61, up from its close of 836.39 points the previous day.
Stocks in London fell for the fourth straight day today as banks and oil firms caused the benchmark index to decline.
Diamond – The Telegraph reported that a rare, 5.3-carat blue diamond sold for 6.2 million pounds (about US$9.6 million) at an auction in London, setting a world record. It had been estimated to sell for around 1.5 million pounds.
Iron – Bloomberg reported that the iron ore market will be able to prevent near-term supply surplus due to high demand from China, according to Investec Securities.
Tin – Reuters reported that tin fell close to 7% in the London Metal Exchange on a disappointing Chinese economic data.
Zinc – Bloomberg reported that zinc declined 0.8% in London as an increase in unemployment in Germany stoked concern that the debt crisis in Europe is affecting regional economies.
Gold – The CFTC is reportedly discussing manipulation of London gold and silver prices.
Tin – Bloomberg reported that tin is leading other industrial metals in decline, on concerns that Chinese demand may not be sufficient, with its government likely to introduce ways to lower property prices.
Nickel – Bloomberg reported that nickel fell in London as LME data shows stockpiles have climbed 7.8% this year, and may leave ample supplies.