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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Curtain to Fall on London’s Historic Silver Benchmark

Posted on 15 May 2014

After 117 years, London’s silver fix will be set for the last time on Aug. 14. The demise of the fix, which is being scrutinized by regulators as part of a broader probe of financial benchmarks, leaves jewelers, miners and investors in need of a new way to price the metal for the first time since 1897.
“We will need to find a substitute,” said Lenic Rodriguez, chief executive of Canadian silver miner Aurcana Corp.”The silver price is very speculative and volatile so for accounting and planning purposes, the benchmark is good.”……………………………………….Full Article: Source


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