London's domination of precious metal benchmarks at risk
from Mining Weekly
Operators of the new precious metals benchmarks, historically run from London, face a challenge to ensure they not only remain relevant globally but are also profitable just as Shanghai is gearing up to launch a rival gold benchmark of its own. After banks were fined for trying to rig Libor rates and currency markets, Britain now requires major market benchmarks, including those for precious metals, to be run by an independent administrator.
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