“Germany’s largest bank (whose total notional derivative exposure relative to German GDP has to be seen to be believed), which was one of the top-five financial players in commodities, will cease energy, agriculture, base metals, coal and iron ore trading, it said in a statement. What will DB keep? Drumroll: only precious metals alongside a limited number of financial derivatives traders. Because one always need to be able to sell ‘paper-backed’ gold derivatives in order to keep the price of gold low while the NY Fed keeps procuring the hundreds of tons of physical gold demanded by the Bundesbank.”

http://www.zerohedge.com/news/2013-12-05/deutsche-bank-exits-commodity-trading-fires-200

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