10/1/15 – The Swiss competition watchdog has launched an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of probes into gold, silver, platinum and palladium pricing.
Global precious metals trading has been under regulatory scrutiny since December 2013, when German banking regulator Bafin demanded documents from Deutsche Bank under an inquiry into suspected manipulation of gold and silver benchmarks by banks.
Even though the market has moved to reform the process of deciding on its price benchmarks, accusations of manipulation have refused to go away.
Gold prices have also shed some 9 percent in the last two years as investors lose faith in its status as a store of value.
Switzerland’s WEKO said … read more