Deutsche Bank Admits It Also Rigged Gold Prices, Agrees To Expose Other Manipulators

Reuters reported that Deutsche Bank has also reached a settlement in US litigation alleging the bank conspired to fix gold prices. In other words, hours after admitting it was rigging the silver market, it did the same for gold.

Some more headlines from Reuters:

• Reaches settlement in U.S. litigation alleging it conspired to fix gold prices.
• Plaintiffs' lawyers, in filing, say Deutsche Bank has signed a settlement term sheet
• Plaintiffs' lawyers say are negotiating formal settlement agreement that would be presented for judge's approval later
• Plaintiffs' lawyers say settlement contemplates a monetary payment by Deutsche Bank
• Gold settlement follows similar accord involving alleged silver price-fixing that was disclosed on Wednesday

Most importantly, as the actual settlement reveals, Deutsche has agreed that in addition to once again providing "valuable monetary consideration" which will be paid into a settlement fund, that like in the silver settlement it will provide "cooperation in pursuing claims against the remaining Defendants."

And with that the floodgates open.

Here is the full settlement letter: