As you may know I have been researching gold market anomalies for a few years now and I am pleased to pass on some promising news to Australians and others who may have suffered losses trading gold since 2004.
A class action launched this year against five banks for gold market manipulation reaches an important milestone on December 15th, when representatives of litigants must lodge their revised complaint with the courts. GATA the Gold Anti-trust Action Committee has published an invitation to anyone who has suffered a loss trading gold or gold futures or options since 2004 to join the class action and advise the legal representatives for the class action by email as soon as possible. Here is the link to the invitation with the relevant email address:
http://www.gata.org/node/14674
As an indication of the strength of these allegations, in May this year Barlcay's were fined over failings in the London gold fixing:
https://fca.org.uk/news/barclays-fined-26m-for-failings-surrounding-the-london-gold-fixing
In a separate case, this week Swiss Bank UBS has indicated it will settle with regulators on allegations of gold market manipulation;
http://www.mining.com/swiss-ubs-faces-fine-over-alleged-precious-metals-trading-wrongdoing-61182/
To quell any doubt about the seriousness of the allegations, yesterday the Swiss regulator revealed they had found "clear attempts" that UBS tried to manipulate precious metals benchmarks:
http://www.reuters.com/article/2014/11/12/banks-forex-settlement-gold-idUSL6N0T22Z420141112
I am aware many readers of this online forum trade in gold bullion, coins, futures or options and may have suffered loss on such transactions over the last decade. If successful, this international class action may well address the issue of justice for your losses.
Kind Regards,
Chuckey
