Barclays has been providing information to an investigation into precious metals by the U.S. Department of Justice, the bank said in its 2014 annual report on Tuesday, a week after a similar statement by HSBC.
As governments try to boost growth with a weaker currency, low inflation may eventually turn into higher inflation when monetary debasement continues. When a local currency devalues, gold prices in local currencies typically shoot up as local citizens scramble for an alternative currency to protect their wealth.
Gold and silver tumbled the most in six weeks as signs of faster U.S. economic growth fueled bets that the Federal Reserve will keep cutting stimulus. Palladium capped the longest decline in almost five months.