Last week, the big news in the silver space came courtesy of the London Silver Market Fixing (LSMF), which said on Wednesday that it will stop administering the London silver fix at the end of the day on August 14, 2014.
As the LSMF explains on its website, it has been fixing the price of silver for more than 110 years with the primary aim of “providing market users with the opportunity to buy and sell silver at a single quoted price.”
However, increased scrutiny from regulators, along with many banks’ desire to remove themselves from the commodities business, has made those seats less appealing.
Silver market watchers will likely have to wait awhile for anything certain to be decided. But at least according to Christian, no fix is bad news.
See full story on silverinvestingnews.com
Photo courtesy of silverinvestingnews.com