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Deutsche Bank ditching gold and silver fix worries British regulator

Posted on 02 May 2014

According to a Reuters report, Britain’s financial watchdog could intervene if there are too few participants to set commodity benchmarks including gold and silver. Since Deutsche Bank’s withdrawal from the fixing process, without a replacement, this leaves only four banks – Barclays, HSBC, Bank of Nova Scotia and Sociéte Generale involved in the twice daily London Gold Fixing process – and only two (HSBC and Bank of Nova Scotia) to fix the daily silver price.
Recently the London gold fixing process has come under considerable scrutiny following a research report by U.S academic, Professor Rosa Abrantes-Metz, and Albert Metz of Moody’s which suggested that the fixing process could be open to manipulation………………………………………..Full Article: Source


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