Deutsche bank fails to deliver on physical gold
Duncan Richardson, News Editor
2 Sep 2016, 2:44 p.m.
In a stunning development clients of Deutsche Banks who invested in the Xetra-Gold trading platform have been denied access to their gold.
Despite Xetra-Gold claiming for every gram of gold held by each investor there is an equivalent amount of gold on their behalf, a number of investors have had their requests for physical delivery denied.
It’s still not clear if other banks which use the Xetra-Gold Trading platform have also failed to deliver gold to their clients.
Xetra-Gold claims it has over 85 tonnes of physical gold, however, this is now in question. If the exchange is struggling to meet its obligations, this may be the first sign of a global shortage in physical bullion.