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E-trading pulls gold into forex units as commodity desks shrink
The increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities. Barclays on Tuesday followed similar moves by rivals Deutsche Bank, UBS, JPMorgan Chase & Co and Morgan Stanley by announcing that it would keep its gold trading business while hiving off most of its global commodities operations. The consolidation of interbank gold dealing and foreign exchange trading on electronic platforms is making it increasingly easy for forex traders to execute precious metals deals, ... (full story)
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