Barclays fined again, this time over gold

摘要

For gold bugs, a less pithy corollary of Joseph Heller's dictum "just because you're paranoid doesn't mean they aren't after you," could be: Just because you imagine gold-price suppression in every corner of the gold market, doesn't mean there isn't serious manipulation going on at the highest levels. In the gold market, mid-May was punctuated by megabank Barclays being fined ?26 million (US$44 million) by U.K. regulator Financial Conduct Authority (FCA) for failing to implement internal controls from 2004 to 2013 that would have prevented a Barclays gold trader from manipulating the global benchmark of spot gold prices: the daily London Gold Fix.