Gold Price Fixing Investigation
Recent investigations allege a potentially unlawful price manipulation of gold by five banks that oversee the “London Fix,” a benchmark that provides a recognized rate for pricing the majority of gold products and derivatives throughout the world’s markets. These five banks — Societe Generale, Deutsche Bank, Barclays, Bank of Nova Scotia, and HSBC — may have colluded to manipulate the price of gold and created an arbitrary guide for investors to buy and sell the product. If you are an investor involved in buying or selling gold since 2004, you may have lost money and we may be able to help you get your money back. Find out if you have a claim.
The London Gold Fix is a benchmark that sets gold prices at a globally recognized rate. The fixing happens twice a day when banks participate in a teleconference to adjust the price up and down depending on the needs of buyers. This process determines the “fixed” price of gold as banks relay information to their customers to determine when the supply and demand are matched.
How We Can Help
We are investigating allegations that these banks were manipulating the price of gold and gold derivative contracts through the London Fix and may have created anomalous and drastic price movements that caused investors to buy and sell gold at artificially rigged prices. If you are an investor who held or transacted in physical gold or gold derivatives that settled or were marked-to-market at the London fix, or held or transacted in COMEX gold futures or options contracts between January 1, 2004 and the present, fill out a free case review form or contact our firm directly, toll-free at 1.800.887.8029. Zimmerman Reed is experienced in handling antitrust cases and we welcome any questions you may have.