Can gold prices be rigged? This is an important question that comes to mind.
A gold trader Daniel Plunkett stood to lose heavily on a recent trade.
A client of his had staked $43 million on a bet that gold prices will rise in 2 years.
Daniel Plunkett was on the other side of that trade.
Now he was in danger of losing heavily if his client won the bet.
Read this blog post in which I explain the details of how this gold trader was able to rig gold prices.
Daniel Plunkett succeeded in rigging gold prices.
The client lost the trade.
Then he found out and made a complaint to the regulatory authorities.
Regulatory authorities uncovered the price fixing scheme.