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Financial Times: Gold pricing scrutiny widens

Section: Daily Dispatches

With an Introduction from Zero Hedge:

"We look forward to learning all about it by the staunch defender of fair and efficient gold markets, the Financial Times. Which is why, just in case, we have saved this article too. You never know when the FT will pull down this article or that, simply for breaching the taboo topic of gold price manipulation, something the Bank of England, we are confident, will be very interested in as well." ...

... For the full commentary:

http://www.zerohedge.com/news/2014-03-17/ubs-investigated-gold-manipulat...

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Gold Pricing Scrutiny Widens

By Neil Hume and Xan Rice
Financial Times, London
Monday, March 17, 2014

The global regulatory scrutiny of benchmarks is shifting from interest rates and foreign exchange to commodities.

In particular, the focus on bullion looks set to intensify following Friday's admission by UBS in its 2013 annual report: that a review of its foreign exchange operations has been widened to include its precious metals business.

In the report, the Swiss bank said: "Following an initial media report in June 2013 of widespread irregularities in the foreign exchange markets, UBS immediately commenced an internal review of its foreign exchange business, which includes our precious metals business."

It added: "A number of authorities also are reportedly investigating potential manipulation of precious metal prices. UBS has taken and will take appropriate action with respect to certain personnel as a result of its ongoing review." ...

... For the full story:

http://www.ft.com/intl/cms/s/0/c43709a8-ad9c-11e3-9ddc-00144feab7de.html



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