By Neena Rai
Deutsche Bank AG (DB) Thursday said it will close its physical
trading business for precious metals, as it continues to retreat
from the commodities business.
Over the next few months, Deutsche will decide whether parts of
the business could be moved to other units within the bank,
Deutsche said in a statement.
The German bank, Europe's largest investment bank, said it will
continue to offer financial derivatives for precious metals, which
include gold, silver, platinum and palladium.
A person familiar with the decision, who asked not to be
identified, said redundancies would be in "low single digits."
The decision is the latest development since Deutsche Bank
decided to exit the physical trading of energy, agriculture, base
metals and dry bulk in December 2013.
Write to Neena Rai at neena.rai@wsj.com
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