Market Chatter: Bank of Nova Scotia Re-Enters Precious Metals Trading

MT Newswires Live07-09

Bank of Nova Scotia (BNS) has re-entered precious metals trading, six years after exiting the sector, Bloomberg News reported Thursday, citing people familiar with the matter.

The new team is smaller than the bank's previous precious metals operation, the report said.

Bloomberg said the bank exited the precious metals business in 2020 after the pandemic disrupted the physical gold market and US authorities investigated its bullion trading activities, but signaled plans to revive its metals desk in late 2025.

Bank of Nova Scotia didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 85.92, Change: +1.01, Percent Change: +1.19

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