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Germany: Deutsche Bank questioned in gold probe

 |  December 13, 2013

German banking regulator Bafin said it is investigating major lender Deutsche Bank for its possible participation in the price-fixing of gold and silver, confirming that the bank has been asked to supply documents regarding the matter.

The lender is accused of manipulating gold and silver benchmark prices. In the past several months, reports say Bafin has questioned Deutsche Bank as part of the probe.

Bafin’s investigation expands the regulator’s watch over financial benchmarks as the authority has confirmed oversight of LIBOR and Euribor benchmark pricing at various banks. But according to reports, Deutsche Bank is the only German bank allegedly involved in the gold pricing manipulation.

Bafin declined to comment on the latest reports about dawn raids of Deutsche Bank offices.

Full Content: Reuters

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