Prices Successfully Smashed to Multi-Year Lows, CME Seeks to Introduce Daily Price Limits on Gold & Silver Futures

Bernanke-Dimon-Fed-TunnelYou have to give the Western bullion banking cartel credit.  They are leaving no stone un-turned in their efforts to suppress precious metals prices and sentiment.
With gold and silver completing a 3 year correction, and both metals trading near multi-year lows, Reuters reports that the CME is looking to introduce daily price fluctuation caps (reportedly 1%) in gold and silver futures in a bid to “reign in wild volatility”.
It looks like GATA’s 2% rule in gold is about to be cut in half. 


As Reuters reports,

U.S. futures exchange CME Group Inc is considering the introduction of daily limits on price moves in gold and silver futures in a bid to rein in wild volatility that has spooked investors in recent years, a CME official said on Tuesday.

CME at present has price fluctuation limits for futures contracts in some energy, agricultural commodities and financial products, but none for its precious and base metals products.

Translation: now that metals prices have been effectively smashed and subdued, price caps will be implemented to slow the progress of the next leg of the secular bull market.

 

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The CME claims the move is a big to slow HFT’s footprint in the market:

The biggest concern for the exchange is the array of sophisticated trading programs that are capable of significantly pushing the market higher or lower, Vias said.

Unusually big moves and the fears of price “slippage” – the difference between the price at which a market player wants to execute an order and the price at which they are able to do so – have turned some gold and silver futures investors away, he said.

We wonder if the CME will be able to cap the rate of increase in physical premiums during the next phase of the bull market as well?