Reuters report on a trader at JPM
- pleaded guilty to spoofing
- he also resigned as an executive director at the bank
from July 2007 to August 2016 at JPMorgan and another bank placed thousands of orders for gold, platinum and palladium futures contracts that he never intended to complete
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Spoofing is, in a nutshell, placing order with no intent to deal on them with the intention of influencing the market.
The US Treas Sec likes gold!
