LONDON, July 2 Collusion in setting gold prices
was possible but there is no evidence of this, a senior British
markets regulator said on Wednesday.
"It is possible but I have no clear evidence that that has
actually happened," David Bailey, head of markets infrastructure
and policy at the UK's Financial Conduct Authority (FCA), told
The FCA is one of several regulators from across the world
who have fined 10 banks and brokerages $6 billion for rigging
the London Interbank Offered Rate or Libor, a widely used
interest rate benchmark.
The British watchdog is also probing the $5.3 trillion a day
foreign exchange market for possible manipulation.
"All benchmarks I think are susceptible to people attempting
to manipulate them. They are susceptible to a variety of
conflicts of interest," Bailey said.
(Reporting by Huw Jones; editing by Keiron Henderson)