Thursday, January 28, 2016

The Silver Rig - "Fixed"

Indeed, fixed.

The theft in the silver markets persists. When will we be delivered from these mafiosos?

From Zerohege (of which I am still banned):

Silver Market In Disarray After Benchmark Price Fix Manipulation

The LBMA Silver Price – the crucial daily benchmark used by producers and traders around the world to settle silver products and derivatives contracts – was set at $13.58 per ounce.

At the time of the auction, which begins at 12 noon London time, the spot price was at $14.42 per ounce while the futures price on the CME was at $14.415, leaving a number of market participants extremely confused as to what has happened.

“Unfortunately, it is not [a mistake],” Ole Hansen, head of commodity strategy for Saxo Bank, told FastMarkets. “This could be the end of the fix. It took 14 minutes to find a fix – they obviously found a fix way off of the market.”

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