Deutsche Bank resigned its seat on the London gold and silver fix yesterday after failing to find a buyer. The news comes just three months after the bank decided to quit the price setting process. According to Reuters, Deutsche Bank will officially step down on the 13th of May.
Deutsche Bank’s decision to resign its seat has coincided with investigations by both UK and German regulators into possible gold and silver price manipulation. Whilst in the U.S. a number of lawsuits have been filed accusing the existing members of colluding to manipulate the price. The gold and silver fix is a ...