London Price "Fix" In Silver Market To End

The process of three large European banks “fixing” the price of silver is set to end August 14, as one bank pulls out support. Global benchmark for fixing price of silver could be structurally altered According to a Wall Street Journal report the London Silver Market Fixing Ltd. said it would end administration of the process, known as the ‘fix.’  The London silver fix results in determining the global benchmark used by hedgers such as jewelers and miners to establish fair value for their deals. In many commodity markets a free exchange of traders determines the price.  In this instance,…