Imminent death of silver fix sets off hunt for alternative
By GCRU Gold News on Tuesday, May 20 2014, 07:54 - Permalink
London's precious-metal price benchmarks, including silver, the century-oldgold "fix" and platinum group metals are on the verge of major transformation, industry sources say, as regulatory scrutiny and lawsuits hasten action.
Customers of the daily London silver fix, used as a global benchmark, were shocked this week when its operator said it would stop administering the 117-year-old process on Aug. 14.