Barclays, Deutsche Bank Accused of Gold Fix Manipulation

Barclays Plc (BARC), Deutsche Bank AG (DBK) and three other banks were accused in a lawsuit of manipulating the London gold fix, a benchmark used throughout the $20 trillion market for the metal. Kevin Maher, a New York resident who says he bought and sold gold and gold futures and options, sued yesterday in Manhattan federal court claiming the five banks […]

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Gold Fix Study Shows Signs of Decade of Bank Manipulation

The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say. Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five of the […]

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Century-Old London Gold Benchmark Fix Said to Face Overhaul

Banks are considering an overhaul ofLondon’s century-old gold benchmark used by miners, jewelers and central banks to buy, sell and value the precious metal, according to a person with knowledge of the process. The five banks that oversee the so-called London gold fixing — Barclays Plc (BARC), Deutsche Bank AG (DBK), Bank of Nova Scotia, HSBC Holdings Plc […]

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IMF Sees Business-Loan Losses of EU250 Billion in EU Banks

“Banks in Spain, Italy and Portugal face about 250 billion euros ($338 billion) in potential losses on their business loans over the next two years, the International Monetary Fund said. About one-fifth of combined corporate loans is at risk of default in the three economies, which are forecast to contract this year, according to the […]

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