Saturday, January 18, 2014

Deutsche Bank quits Gold and Silver London Fix

It seems German regulators have finally realized the Fix is in and they want their bank out of the cesspit that is the City of London.

Note with DB out of the silver fixing game that only leaves two banks, HSBC and Bank of Nova Scotia-ScotiaMocatta as the daily silver fixers. 

From Reuters.com

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LONDON, Jan 17 (Reuters) - Deutsche Bank will withdraw from gold and silver benchmark price setting, it said on Friday, as European regulators investigate suspected manipulation of precious metals prices by banks.

Germany's largest bank and some of its rivals are taking a battering over a series of other scandals and inquiries regarding manipulation of interest rates and foreign exchange.

On Wednesday, global investigations into alleged currency market manipulation intensified as U.S. regulators descended on Citigroup's London offices and Deutsche suspended several traders in New York, sources told Reuters.

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