Deutsche Bank to withdraw from gold, silver fix

LONDON Fri Jan 17, 2014 5:42am EST

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LONDON Jan 17 (Reuters) - Deutsche Bank said on Friday it will withdraw from the gold and silver benchmark setting, or fixing, process after scaling back its commodities business.

The bank is one of five involved in the twice-daily gold fix for global price setting, but said in a statement it remained committed to its precious metals business.

Deutsche is seeking to sell its gold and silver fixing seats to another member of the London Bullion Market Association, a source close to the bank said. (Reporting by Eric Onstad; Editing by Veronica Brown)

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