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J.P. Morgan, HSBC accused of silver manipulation

28 Oct News | Comments

TOKYO (MarketWatch) — An investor has accused J.P. Morgan Chase & Co. and HSBC Holdings Inc. of manipulating the price of silver futures, according to news reports Thursday. Two separate lawsuits filed in federal court in Manhattan Wednesday allege that the two banks manipulated silver futures by “amassing enormous short positions,” according to a report from Dow Jones Newswires. The Commodity Futures Trading Commission has been investigating allegations of price manipulation in the silver market since 2008.

 

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