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Bafin Reviews Gold, Silver Pricing as Part of Libor Review

German financial regulator Bafin is reviewing how banks participate in gold and silver price setting as part of its review of benchmark administration in the wake of the Libor-rigging scandal.

The regulator is looking at the procedures at “individual banks,” Ben Fischer, a spokesman for Bafin, said in an e-mailed statement today. He declined to identify any banks or to provide any details of the review, which began several months ago.