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Barclays Fined 26million for Gold Price Fixing

Friday, May 23, 2014

Barclays bank has been fined for fixing the gold price because one of its traders used the gold price to avoid having to pay out on a customer’s order. The UK Financial Conduct Authority is striking a fine on the British trader James Plunkett, who sent out information aimed at changing the price of Gold. This happened only a day after Barclays paid £290 million in fines and it became the first bank to be charged in rigging.