Gold Market In China Is Being "Spoofed": Frank Holmes

Gold prices are being manipulated on Chinese markets, said Frank Holmes, chief investment officer and CEO at U.S. Global Investors.

Holmes spoke to Kitco News at Palisade Global’s Hard Asset Conference on Friday. The three-day conference was held on Jekyll Island, Georgia.

The market manipulation or spoofing occurs during Chinese holidays when trading is thin. Holmes said a large number of contracts will be “flashed” on the markets with the intent to sell.

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