LONDON May 18 Commerzbank is to close
its physical precious metals business in the next year, a source
with direct knowledge of the matter said on Thursday.
The business that will be closed includes physical precious
metals trading, and related activities including refinery
services, vaulting and transportation of precious metals, the
source said. The team is largely based in Luxembourg.
No change is expected to its unallocated products business,
the source added.
Commerzbank had no comment to make on the matter.
(Reporting by Jan Harvey; editing by Jason Neely)