- UBS's annual report disclosure that an investigation of of its foreign exchange operations has been widened to include its precious metals business suggests the probe is about more than the twice-daily London gold fix.
- The Swiss lender is not one of five banks which oversee the fix and - the FT notes - no mention of an investigation into precious metals was made during the company's Q4 results just one month ago.
- UBS's disclosure is especially important as the bank has tended to be a front-runner among its peers in revealing the details of these numerous regulatory probes over the past two years.
- As for gold trading today, the price threatened $1,400 per ounce overnight, but has retreated back to flat on the session at $1,379.
- Gold ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, GLDI, DGZ, AGOL, DGLD, TBAR, UBG, GLDE, GYEN, GEUR, GGBP
From other sites
Video at CNBC.com (Jul 21, 2015)
Video at CNBC.com (May 5, 2015)
Video at CNBC.com (Feb 12, 2015)
at CNBC.com (Dec 24, 2014)
at CNBC.com (Nov 17, 2014)
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