The US Department of Justice is in the early stages of an investigation into at least 10 international banks—including JPMorgan Chase, Goldman Sachs and Barclays—over alleged manipulation of the precious metals market.
HSBC included in its annual report, published Monday, that the antitrust division of the Justice Department asked the bank to submit documents related to an investigation into the price setting of gold, silver, platinum and palladium.
The report added that the US Commodity Futures Trading Commission (CFTC) subpoenaed HSBC Bank USA for information on its precious metals trading. The bank said it was cooperating with American officials.
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