Deutsche Bank AG is mounting a return to the top table of precious metals trading a decade after it all but abandoned the business, notching up significant trading profits and applying to rejoin the inner circle of banks that play a central role in the market.
The bank’s precious metals traders generated well over $100 million in revenue during the first half of the year, a period when tariff-driven dislocation provided lucrative arbitrage opportunities, according to people familiar with the matter. That catapulted the bank into the top handful of earners, after the likes of JPMorgan Chase & Co and HSBC Holdings Plc, the people said, asking not to be identified as the information is private.