UPDATE 1-In age of market scrutiny, who wants in on the gold "fix"?
* Deutsche Bank's seat at gold fixing table a 'tough sale'
* Prospect of increased scrutiny offsets kudos of role
* Candidate may emerge among Asian banks - sources
By Jan Harvey and Clara Denina
LONDON, Jan 22 (Reuters) - Deutsche Bank's decision to put its seat at the gold fixing table up for sale has raised questions about the future of the price benchmark.
One stands out: who, after the Libor scandal, will want it?
Gold price setting or "fixing", determining the benchmark for the billions of dollars traded every day, is nearly a century old. The modern twice-daily system launched in 1968.
Unlike most commodities which are dominated by futures trading, gold is chiefly a cash market.
Involvement in the fix offers little financial benefit to members, but a seat at the table is prestigious. However, that may not be enough. Continued...