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US: Banks face scrutiny over pricing of precious metals

By  |  February 24, 2015

The US Department of Justice is investigating big banks over the manipulation of precious metals like gold and silver, the Wall Street Journal reported.

At least 10 big banks are being scrutinized even after regulators in Europe dropped a similar probe concluding that there was no evidence of transgression.

DoJ prosecutors are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the CFTC has opened a civil investigation, the newspaper said.

HSBC Holdings PLC said on Monday that the probes “are at an early stage” and that the US commodities regulators and DOJ have sought documents on the precious metal dealings.

 

Full Content: The Wall Street Journal

 

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