US DOJ Probes Banks on Price-Rigging Precious Metals
After nailing a number of bulge-bracket financial institutions for interest rate and foreign currency market price manipulation, U.S. regulators and prosecutors are taking aim at the world of precious metals pricing. In many circumstances, too avoid long drawn out court room showdowns, banks typically reach financial settlements with Western regulators. The U.S. Justice Department (DOJ), specifically the antitrust division, is looking into 10 banks for possible rigging of precious metals markets – specifically precious metals benchmarks. A number of banks are accused of daily precious metals price fixing in a cartel-like behavior. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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