• Gold: 1,257.88 2.08
  • Silver: 16.11 0.07
  • Euro: 1.179 0.004
  • USDX: 93.756 -0.176
  • Oil: 57.72 0.46

First Daily Silver Price Set After End of London...

The first London silver price to replace the 117-year-old fixing ritual conducted by a few traders was set today in an attempt to make the process more transparent amid increased scrutiny of benchmarks.

U.S. Mint to use new silver benchmark for coin...

The U.S. Mint said on Wednesday it will adopt the new electronic silver benchmark to be unveiled this week for its coin sales, silver purchases and price management programs following the end of the original 'silver fixing' mechanism.

ETFS Silver Trust, ETFS Precious Metals Basket...

London Silver Market Fixing Ltd. has announced its intention to discontinue the "London Fix" pricing benchmark for silver after August 14, 2014. The London Fix has been the "Benchmark Price" for valuation of silver bullion held by each of the ETFS Silver Trust (NYSE Arca: SLVR) (the "Silver Trust"), the ETFS Precious Metals Basket Trust (NYSE Arca: GLTR) (the "Precious Metals Trust") and the ETFS White Metals Basket Trust (NYSE Arca: WITE) (the "White Metals Trust" and together with the Silver Trust and the Precious Metals Trust, the "ETFS Trusts"). The London Bullion Market Association has accepted a proposal by CME Group and Thomson Reuters to operate a replacement silver price benchmark mechanism. Commencing August 15, 2014, CME Group/Thomson Reuters will operate an electronic, volume-weighted, over-the-counter silver bullion market clearing process to establish and publish a fixed price for a troy ounce of silver once each trading day at Noon London time (the "London Silver Price").

The Silver Institute Releases Report on the...

The Silver Institute today released a report titled “The Outlook for New Electrical and Electronic Uses of Silver.” The report identifies three key potential growth areas for silver demand: flexible electronics; light emitting diodes (LEDs); and interposers. These three growth areas combined have the potential to add another 20 million ounces of silver to total demand by 2018.

As silver fix decision nears, LME ties up with...

The London Metal Exchange and technology firm Autilla joined forces on Wednesday to propose an electronic system for setting the global silver price benchmark as the deadline neared for replacing London's century-old silver fix.

London Metal Exchange says can offer three...

The London Metal Exchange (LME), which is competing to offer an alternative to the silver fix when the system is disbanded in August, said on Monday it could offer three different solutions.

Ten Firms Express Interest in Silver Fixing...

Ten companies are interested in developing and running a replacement for the century-old London silver fixing benchmark that will end in August. The London Bullion Market will create a shortlist from the requests for proposals and the industry group’s members will consider presentations at a seminar in London on June 20, the LBMA said today in a statement on its website. A survey conducted in May showed the market wants an electronic, auction-based process and one that’s tradable, the LBMA said June 5.

A Few Reasons to Consider Buying Silver

The recent major selloffs in silver have given investors an excellent chance to accumulate a long-term position in physical holdings and silver companies. As the price has come down, I have been recommending for some time to dollar cost average and/or pyramid down into silver and silver equities. So what is the path to a surge in silver prices? My primary thesis is that the endless easy money policies from central banks around the globe have created a long-term tailwind for the various precious metals.

Total Physical Silver Demand Achieves Record...

Total physical silver demand rose by 13 percent in 2013 to an all-time high, according to “World Silver Survey 2014″, released today by the Silver Institute. This was primarily driven by the 76 percent increase in retail investment in bars and coins coupled with a sturdy recovery in jewelry and silverware fabrication. On the supply side, silver scrap fell by 24 percent, experiencing the largest drop on record to reach its lowest level since 2001. The silver price averaged $23.79 in 2013, the third highest nominal average price on record, in a particularly volatile year for the entire precious metals complex.

Historic silver price benchmark bites the dust as...

The 117-year old London silver price benchmark - or fix - will cease on Aug. 14, its operator said, as regulatory scrutiny of price-setting intensifies across markets.