U.S. regulators are scrutinizing whether prices are being manipulated in the world's largest gold market, according to people familiar with the situation.
The Commodity Futures Trading Commission is examining the setting of prices in London, in which a handful of banks meet twice daily and set the spot price for a troy ounce of physical gold, the people said.
The CFTC is looking at issues including whether the setting of prices for gold—and the smaller silver market—is transparent. No formal investigation has been opened, the people said.
The inquiry comes as regulators expand their review of global financial benchmarks in ...Continue reading article with pop up player