Mineweb reported that in the wake of the news that the London silver fix will cease to exist at the end of the day on August 14, 2014, Kitco has begun publishing a daily “silver fix” at 10:00 a.m. EST.
As quoted in the market news:
Kitco states on its website that its 10 AM New York Silver Fix is a silver price indicator that is set and published at approximately 10:00 am EST on days when the silver market is actively trading. It is determined by a unique Kitco algorithm that calculates the average spot price between bid/offer on the wholesale silver market, as quoted by internationally recognized bullion dealers.
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