Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Sincerely,

George et al

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SMF069

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Gold attacked by HFT

posted on Aug 11, 2012 05:51AM

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Yet another shocker? It failed miserably once again though....as usual! SMF069

Dimitri Speck: A high-frequency attack on gold

Submitted by cpowell on Thu, 2012-08-09 20:39. Section: Documentation

4:33p ET Thurday, August 9, 2012

Dear Friend of GATA and Gold:

Market analyst and GATA consultant Dimitri Speck today publishes at Safe Haven a study of what he concludes was a high-frequency trading attack on the gold futures market on June 7 that drove the price down $20 in two minutes. Speck concludes:

"Although in the past central banks repeatedly intervened in the gold market, it is unlikely that this action was done by a central bank. In the field of high-frequency trading, the technical complexity and the necessary level of experience and specialization are probably too high. Therefore, a private financial institution must have done the high-frequency price manipulation to achieve a trading profit. This was a well-defined incident in thin trading, limited to a short time period and to a single market. These conditions make it ideal for a successful investigation by the regulatory authorities."

Maybe the U.S. Commodity Futures Trading Commission will look into the incident when it finishes with its investigation of the silver market -- or when Hell freezes over.

Speck's analysis is headlined "A High-Frequency Attack on Gold" and it's posted at Safe Haven here:

Gold & Diamonds

Gold attacked by HFT

Dimitri Speck: A high-frequency attack on gold