US authorities have placed at least ten major banks under investigation for possible infringements on the precious metals market, while European authorities have dropped a similar investigation after finding no evidence to support their thesis. The Wall Street Journal reports it, specifying that the antitrust division of the American Department of Justice is examining the procedure with which the prices of gold, silver, platinum and palladium are fixed in London, while the Commodity Futures Trading Commission (Cftc) has launched a civil proceeding.
According to sources from the newspaper, the investigations concern HSBC, Bank of Nova Scotia, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan Chase, Société Générale, Standard Bank Group and UBS.
