The London silver fix, the bench mark for silver prices for the last 100 years is to end on August 14th. I recently told you that Deutsche Bank AG were resigning their seat on both the silver and gold fixing panels and this will take effect shortly after their exit.
This is a significant move and could have an impact on the gold fix as well.
At the moment there are numerous accusations of price manipulation bouncing around and there are rumours that the worry of future lawsuits may have influenced Deutsche’s decision. Also very interesting to note that no one else was interested in taking their place.
I fundamentally believe that 2014 will be a good year for gold and silver and this is just one more reason to add to my already exhaustive list of drivers for the price to rise significantly in the next 12 months. Holders of physical metal, and it must be physical, have had several years of worry as the price has fallen but unless you want to sell now it is of little consequence.
Gold and silver bugs everywhere – keep the faith.
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