UPDATE 1-Deutsche Bank under scrutiny in gold price-fixing probe

Fri Dec 13, 2013 8:24am EST
 
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* Bafin has been looking at gold, silver fixings for months

* Bafin says probe still ongoing

* Watchdog asked Deutsche Bank for documents in gold probe -FT

FRANKFURT, Dec 13 (Reuters) - German banking regulator Bafin has demanded documents from Deutsche Bank as part of a probe into suspected manipulation of benchmark gold and silver prices by banks, the Financial Times reported, citing sources.

Bafin has questioned the bank's staff during several on-site inspections over the past few months, the newspaper said on its website, citing people familiar with the matter.()

Bafin on Friday repeated that besides Libor and Euribor, it has been looking at other benchmark setting processes like gold and silver price fixings at individual banks.

"The examinations were launched several months ago and are still ongoing," a Bafin spokesman said.

He declined to comment on the newspaper's report but said Bafin has the power to conduct interviews and request documents or other information from banks in its enquiries.

Following probes into benchmark interest rate rigging by banks, Bafin is investigating whether traders may have colluded to influence the level of the precious metals benchmarks for their own benefit, a source close to the regulator had said in late November, adding no concrete evidence of wrongdoing had been found so far.   Continued...