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Gold May Have Been Manipulated Like Libor: Expert

Monday, 9 Jul 2012 | 2:10 AM ET

"It is effectively an intervention in two ways; one would be the fact that for central banks gold and silver going up doesn't make their currency look any good and secondly a number of the big commercial banks have very large short positions which they like to manage and make easy money from," Ned Naylor-Leyland, investment director at Cheviot, told CNBC.