![]() The bank offers its customers physically allocated and pool allocated gold safekeeping facilities classreference-link5, as well as precious metals accounts (unallocated accounts) classreference-link6. The distinct entities of UBS (Switzerland) and Credit Suisse AG (Zurich) are also Ordinary members of the LBMA in addition to their London branches being LBMA market makers.īoth Swiss banks have historically been active participants in the gold lending market, and both banks currently offer gold deposit-taking services. UBS is also one of the five members of the London gold clearing hub called London Precious Metals Clearing Limited (LPMCL), although it does not maintain its own precious metals vault in London. Gold Price Manipulation by Swiss Banks 10. ![]() This trading pattern is mainly due to Switzerland hosting the largest concentration of gold refineries in the world, whereby gold ore, recycled gold, and existing bar gold have to physically enter the country from around the world for processing before being exported again.
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