Deutsche Bank said investigated in gold price rigging probe

Pot Of Gold

German banking regulator Bafin has demanded documents from Deutsche Bank as part of a probe into suspected manipulation of benchmark gold and silver prices by banks, the Financial Times reported, citing sources.

Reuters reports that Bafin has interrogated the bank's staff during several on-site inspections over the past few months, the newspaper said on its website, citing people familiar with the matter.

Currently, gold fixing happens twice a day by teleconference with five banks: Deutsche Bank, Bank of Nova Scotia-ScotiaMocatta, Barclays, HSBC Bank USA, NA and Société Générale. The fixings are used to determine prices globally.

Deutsche Bank is also one of three banks that take part in the equivalent process for silver.

To access the complete Bloomberg article hit the link below:

Deutsche Bank under scrutiny in gold price-fixing probe - FT

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