CFTC Probes Price-Setting By Banks In Gold, Silver Markets

Law360, New York (March 14, 2013, 8:44 PM EDT) -- U.S. financial regulators are reportedly looking into possible price-manipulation in London's gold market and probing various aspects of big banks' price-settings, according to a Thursday report.

The Commodity Futures Trading Commission is examining whether the setting of prices in the world’s largest gold market, and the less sizable silver market, is transparent enough, the Wall Street Journal reported.

No formal investigation has been opened, the Journal said, citing unnamed sources.

Prices for gold are set twice daily by five banks via teleconference, and three of those...
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