Friday, January 17, 2014

Reuters: German authorities investigating price fixing of gold

Reuters reports today the German authorties are in an ongoing investigation into price of precious metals by banks. Link to story here:

Germany had asked to have its gold reserves that are stored in New York by the US FED returned to Germany. So far they have only been able to get a small fraction of the gold back. Now we see reports that they are investigating price fixing of gold by banks.

Here is a quote from the article linked just above:

"The market was surprised by news of Deustche Bank 
withdrawing from gold and silver benchmark setting, or fixing,
as German regulators investigate suspected manipulation of
precious metals prices by banks."

More on this story from Bloomberg:

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