WASHINGTON(BullionStreet): Commodity Futures Trading Commission (CFTC) is considering a probe into alleged manipulation of London gold and silver prices.
The CFTC however is yet to make any official announcement in this regard and did not immediately respond to requests for comment by medias.
The top regulator is reported to have started internal discussions on whether the daily setting of gold and silver prices in London is open to manipulation.
A formal investigation has not been launched but the CFTC is looking into the transparancy of how prices are set twice a day, which are then used to determine spot prices worldwide.
Gold for April delivery fell $3.30, or 0.2%, to settle at $1,588.40 an ounce on the Comex division of the New York Mercantile Exchange, and silver for May delivery settled down 21 cents, or 0.7%, at $28.96 an ounce.
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