Does anyone follow the precious metals market ?

[Wildman]

I DO ON A DAILY BASIS, SOMETIMES 4 OR 5 TIMES A DAY (oooopsie ! forgot to click off the caps lock key.., please forgive me)

have you noticed that foreign one ounce gold coins are usually $50.00 to $100.00 or so less expensive than U.S.A. gold ?

also does anyone do business with GOLDLINE.com ? i did until a few weeks ago when i found a company who undersells the same damn coin for $200.00 to $250.00 LESS than GOLDLINE, i wonder if they will refund the over charge ? (i am truly joking here !! ) is that $200.00 or so more the commission fee for the agent you talk to ?

the goldline agent quoted me $1778.57 for one GOLD AMERICAN BUFFALO, in one of those gold sellers pop-up you see in an add on news sites and others, i contacted one that sells gold coins $45.00 over spot.., so i bought a couple.

i will wait till my GL agent gives me his monthly call and rake him over the coals over the GL rip off !!

please relate your GOLD buying experiences.., this may be fun

 

[waltky]

Swiss regulators are investigating seven big banks over their precious metals trading...

New bank scandal: Swiss investigate metals market rigging
September 28, 2015: Here we go again. Switzerland's competition regulator has begun probing seven major banks for rigging prices in the precious metals market, including gold and silver.

The banks named in the investigation are UBS (UBS), HSBC (HSBC), Morgan Stanley (MS), Barclays (BCS), Julius Baer (JBAXY), Deutsche Bank (DB) and Mitsui (MITSY). The regulator said Monday that the banks are suspected of colluding while trading gold, silver, platinum and palladium. Julius Baer and Mitsui bank said they were cooperating with the authorities. The other firms did not provide comment on the matter.

U.S. regulators and the European Commission are also reportedly investigating similar trading issues in the metals market. The latest investigation follows a string of successful international probes that have resulted in billions in banking fines. In May, five global banks were hit with $5.4 billion in penalties for trying to rig foreign currency markets in their favor. U.S. Attorney General Loretta Lynch said some of the banks "participated in a brazen display of collusion and ... manipulation."

Separately, in November 2014, six big banks agreed to pay over $4 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates. HSBC, UBS, JPMorgan Chase (JPM), Bank of America (BAC), RBS (RBS) and Citibank (C) paid their fines to the U.S. Commodity Futures Trading Commission, the U.K.'s Financial Conduct Authority and the U.S. Office of the Comptroller of the Currency.

New bank scandal: Swiss investigate metals market rigging

See also:

BNY Mellon pays $15 million to settle intern probe
August 18, 2015: Bank of New York Mellon will pay $15 million to settle charges that it violated an anti-bribery law by hiring interns that were relatives of Middle Eastern officials.

The U.S. Securities and Exchange Commission alleged that BNY Mellon breached the Foreign Corrupt Practices Act in 2010 and 2011 when bank employees "sought to corruptly influence foreign officials in order to retain and win business managing and servicing the assets of a Middle Eastern sovereign wealth fund," according to an agency statement. "These officials sought, and BNY Mellon (BKPRC) agreed to provide, valuable internships for their family members," the SEC said. "BNY Mellon provided the internships without following its standard hiring procedures for interns, and the interns were not qualified for BNY Mellon's existing internship programs."

The settlement is one of the first SEC actions under the FCPA, which includes anti-bribery provisions -- giving anything of value to a foreign official in exchange for business deals is prohibited. It also sets a precedent that even the hiring of interns could be scrutinized under the law. According to media reports, U.S. regulators are also investigating whether many of Wall Street's biggest banks including JP Morgan, (JPM) Citigroup (C) and Goldman Sachs (GS), hired the family members of Chinese officials in order to secure deals.

The banks generally say they're conducting normal business operations accepted in other countries, and that they have to engage at that level in order to remain competitive. But with BNY Mellon's fine -- and ongoing probes -- U.S. regulators seem to disagree. The act of hiring relatives of a foreign official is not banned under FCPA, but it would be considered a violation if the decision was made with intent to win favors or business. BNY Mellon did not admit to or deny the allegations in the SEC statement. The bank did not immediately return a request for comment.

BNY Mellon pays $15 million to settle intern probe

 

[Delta4Embassy]

Only when I see buy gold commercials mentioining how it's been over $3000/ounce then think to myself didn't it close today at like 1130/ounce?

 

[Delta4Embassy]

I DO ON A DAILY BASIS, SOMETIMES 4 OR 5 TIMES A DAY (oooopsie ! forgot to click off the caps lock key.., please forgive me)

have you noticed that foreign one ounce gold coins are usually $50.00 to $100.00 or so less expensive than U.S.A. gold ?

also does anyone do business with GOLDLINE.com ? i did until a few weeks ago when i found a company who undersells the same damn coin for $200.00 to $250.00 LESS than GOLDLINE, i wonder if they will refund the over charge ? (i am truly joking here !! ) is that $200.00 or so more the commission fee for the agent you talk to ?

the goldline agent quoted me $1778.57 for one GOLD AMERICAN BUFFALO, in one of those gold sellers pop-up you see in an add on news sites and others, i contacted one that sells gold coins $45.00 over spot.., so i bought a couple.

i will wait till my GL agent gives me his monthly call and rake him over the coals over the GL rip off !!

please relate your GOLD buying experiences.., this may be fun

Gold coins that are legal currency aren't the same as gold markets. Price for coins is 95% collector's valuation, not the raw metal's value.

 

[Iceweasel]

I've invested in lead.