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Scotiabank one of 5 banks facing lawsuit over accusations of gold price manipulation

Financial Post on Gold Prices

Published in Financial Post Bob Van Voris, Bloomberg News | March 5, 2014 | Last Updated: Mar 5 8:13 AM ET

Barclays Plc, Deutsche Bank AG, the Bank of Nova Scotia and two other banks were accused in a lawsuit of manipulating the London gold fix, a benchmark used throughout the $20 trillion market for the metal.

Kevin Maher, a New York resident who says he bought and sold gold and gold futures and options, sued Tuesday in Manhattan federal court claiming the five banks overseeing the century-old benchmark colluded to manipulate it.

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