Eighty percent of the precious metals trading at RBS is in gold, and now RBS wants to disband this business too (in 2010, non-US assets of RBS Sempra Commodities were sold to JP Morgan for $1.7bn). RBS is one of the banks marred in the interest rate rigging scandal.
In contrast, JP Morgan, a licensed depositary for precious metals, has asked the CME for approval for additional vault space and applied to be a weight master for silver. Value chain optimisation - here we come!
In contrast, JP Morgan, a licensed depositary for precious metals, has asked the CME for approval for additional vault space and applied to be a weight master for silver. Value chain optimisation - here we come!
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