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.
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: