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Goldman Sachs Hits Back At Critics Of Warehousing Unit

Goldman Sachs Hits Back At Critics Of Controversial Unit
Reuters
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Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc., listens during an interview hosted by Politico in Washington, D.C., U.S., on Thursday, June 13, 2013. Blankfein said debate about when the Federal Reserve will raise interest rates may help avoid 'a jarring surprise' to markets. Photographer: Andrew Harrer/Bloomberg via Getty Images

NEW YORK, July 23 (Reuters) - Goldman Sachs Group Inc has issued its first public rebuttal of mounting criticism of its metals warehousing unit, denying that Metro International Trade Services has deliberately caused aluminum shortages and inflated prices.

In a statement on Tuesday, the bank said Metro denied that its metals warehousing unit has moved aluminum from warehouse to warehouse in order to earn more rent.

(Click here to see Goldman's statement.)

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