Deutsche Bank to withdraw from gold price fixing amid probe

Written by Reuters | London | Updated: Jan 18 2014, 14:57pm hrs
Deutsche Bank will withdraw from gold and silver benchmark setting, or fixing, amid an investigation by German regulators into suspected manipulation of precious metals prices by banks. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said it was dropping out of the process after withdrawing from the bulk of its commodities business. Deutsche Bank is withdrawing its participation in the gold and silver benchmark setting process following the significant scaling back of our commodities business, the bank said in a statement on Friday.