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Deutsche Bank resigns from gold price-setting panel

Posted on 30 April 2014

Deutsche Bank AG has failed to sell its seat on the London gold-fixing panel following a three-month search for potential buyers, raising fresh concerns about the credibility of the historic benchmark.
The German lender is one of five banks that set the twice-daily gold “fix”—a snapshot of the market price—in a process that has operated more or less unchanged since 1919. The bank had been looking for someone to buy its seat after announcing in January it was exiting the fixing panel as part of a wider scaling back of its commodities business……………………………………….Full Article: Source


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