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New Silver Fix on Friday?

Kitco has just announced that a new silver fix is being rolled out on Friday. A spokesperson for a silver producer was interviewed. Unfortunately I couldn't make sense of anything she said. Expect some volatility...Gold fix is expected to follow after test run with silver. Can anyone explain to me what all this means. I don't even understand the word "fix".



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To fix

In metals markets, "to fix" is to set or establish the daily price.

Skeptics believe participating banks "fix" metals prices to manipulate them for profit.

For over a century fixed

For over a century fixed daily pricing of silver has been available through the operations of London Silver Market Fixing Ltd. For many in the industry fixing has been quite beneficial. This Friday shall be the last day that London Silver Market Fixing Ltd will do its "fix" thing. Silver [and gold] industry folks have been developing a new fixing mechanism to replace the one that ends on Friday. The new mechanism will roll out on the same day the old one folds this Friday.

Here's the best overall article I've found so far explaining what is going on...
http://www.wealthdaily.com/articles/silver-price-fix/5236

Thanks for the link...I must

Thanks for the link...I must be getting paranoid. I just sense there is a bigger picture/agenda going on...from Canada's seeming to promote bitcoin to the altering value of silver and of course gold..the solidarity of G20 banks to create Bail-ins, polarizing political factions...torquing up for war???? Do I sell my silver now or wait to see what happens???

Debbie's picture

Thank you

that was a very helpful article.

Debbie