The silver fix may have its days numbered
By GCRU Gold News on Tuesday, February 2 2016, 06:51 - Permalink
The London Bullion Market Association silver price, which in 2014 moved to an electronic platform after 117 years of being set between banks, was set at $13.58 an ounce Thursday, or 3.5% less than the intraday low on the Comex in New York.
The situation repeated itself again Friday, with the LBMA price fixed at $14.08, or roughly 1% under the level the spot metal was then trading, Bloomberg reports.
At least 10 times in the last six months, the silver benchmark has settled outside the same day’s spot trading range.