The new silver benchmark is just 2 days away
The 117 year old London Silver Price Fix (and it may turn out that the word “fix” is exactly the right word here) comes to an end in just two days time.
It’s new electronic replacement, the London Silver Price (L.S.P) will come into play this Friday (15.8.14) and the jury is out as to how it will work – or indeed if it will work at all. Rumours abound and it would not be a surprise to see some serious short term volatility in the silver price. It is being reported in the financial press that some of the big players are about to “pepper the market with orders”.
There is uncertainty as to whether the LSP will even be publicly available to retail customers which raises the question of whether we can even see the live prices.
All I know is that silver is at a very low price right now. I continue to buy silver coins of the realm (so that there’s no CGT to pay when I sell) and I continue to buy at a 20% discount to the retail price.
I maintain that silver is the trade of the decade.
