US regulators probing 10 banks over pricing of precious metals: report

New York

THE US Department of Justice and the Commodity Futures Trading Commission are investigating at least 10 major banks for possible rigging of precious metals markets, the Wall Street Journal reported, citing people close to the inquiries.

The department's prosecutors are scrutinising the price-setting process for gold, silver, platinum and palladium in London, while the CFTC has opened a civil investigation, the newspaper said.