AichiInternational.com - Germany Launches Metals Price-fixing Probe.


Aichi International: The German financial regulator, BaFin, is examining gold and silver price-fixing procedures at several banks.

Ohio (I-Newswire) February 12, 2014 - AichiInternational.com, In the aftermath of LIBOR rate-rigging scandal involving several global banks, the German financial regulator, BaFin, is examining the benchmarking process that fixes the price of precious metals like silver and gold at the country's largest banks.

Precious metals' prices are fixed daily in London by five so-called bullion banks including Deutsche Bank and BaFin is stepping up scrutiny after the LIBOR scandal that saw several banks fined billions of dollars for their participation.

"Conspiracy theorists have long speculated that gold and silver prices are deliberately suppressed by bullion banks acting as agents of global central banks who are keen to ensure that fiat or paper-based currency remains the main medium of exchange," said an Aichi International.

BaFin's probe comes as the UK's Financial Conduct Authority scrutinizes the process by which prices are set in the multi-trillion dollar gold market.

"The so-called "London Fix" is the price used by mining corporations, jewelers and central banks to buy and sell the metal and it's published twice a day by Barclays, Bank of Nova Scotia, Deutsche, HSBC and Societe Generale," said the Aichi International European markets analyst.

BaFin has not identified which banks are being investigated but its spokesman said that the probe was part of the regulator's general review of benchmark rate and price-setting procedures within the German financial sector.

Deutsche Bank declined to comment when asked if it was being investigated as part of the probe.

------------

International360 Company Description - Our team works with you to create outstanding public relations strategies, promote positive awareness and visibility, and deliver superior client service and targeted results. We work with a variety of different clients in a variety of industries .

International360 provides PR support for diverse businesses, delivering success in newspapers, magazines, TV, radio, websites, blogs, social networks and other online channels.






About International360

International360 Company Description - Our team works with you to create outstanding public relation   More..s strategies, promote positive awareness and visibility, and deliver superior client service and targeted results. We work with a variety of different clients in a variety of industries .

International360 provides PR support for diverse businesses, delivering success in newspapers, magazines, TV, radio, websites, blogs, social networks and other online channels.Less..

Contact Information

International360
Janice Smith
1841 Goldie Lane, Harrison,
Ohio
45030

Published in:

Business > Finance

Published On:

February 12, 2014

Print Release:

Print Release

If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.


Related Releases

EMS Internet Reviews: A Look at the New After Effects CC
Graphic artists and photo editors now have a new thing in the market that can improve their job a notch better and easier with its advanced features. The new Adobe After Effects CC has hit the market, with a range of great and better features and too

World Bioinformatics Market Will Grow at a CAGR of Over 23.0% from 2014 to 2020
GrandViewResearch.com has announced the addition of "Global Bioinformatics Market Analysis And Segment Forecasts To 2020" Market Research report to their Database.

L'Oral SA to Revolutionise Digital Beauty Experiences Globally with Sitecores Experience Platform
April 16, 2014 - Sitecore, the global leader in customer experience management software, announced today that Sitecore's experience platform has been selected by The L'OrŠ¹al Group to enable their marketers to deliver personalised customer experiences

Properties in Delhi and NCR - Living Full of Delight and Contentment
properties in Delhi and NCR - Delhi is considered to be most favored destinations for real estate investment. It is best location to live, play and work. It homes numerous of property dealers.

The Dark Horse at the South African Service Awards Is Purple
At the recent South African Service Awards, the purple-brand First Car Rental scooped the illustrious 'Most Consistent Performer over the Past Three Years' Award defeating all of South Africa's big industry and retail contenders.