Justice Department goes after 10 banks for price-rigging precious metals

The Justice Department has launched an investigation into at least 10 big banks to see if officials rigged prices of precious metals — though European regulators looking into the same thing had to conclude: There was no wrongdoing.

But prosecutors in the Justice Department’s antitrust division are looking at how prices for gold, silver, platinum and palladium are set in London, the Wall Street Journal reported. And the Commodity Futures Trading Commission has opened their own investigation, the news outlet reported.

So far, the two agencies have looking at HSBC, the Bank of Nova Scotia, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan Chase, Societe Generale, Standard Bank Group Ltd. and UBS, Fox News said.

Bank officials didn’t comment.