By Pia Rivera
David Morgan, author of the Morgan Report, spoke to INN about the precious metals market after the US presidential elections, the silver fix, and the effect of a possible Fed rate hike.
The Wall Street Journal reported that China Construction Bank Corp. (HKEX:0939) has become the first Chinese bank to participate in the LBMA Silver Price. According to the news outlet, the news illustrates “the country’s footprint in global financial markets.”
Analysts are calling for the gold price to be weaker at the start of 2015 before gaining momentum after the Fed makes a decision about interest rates. Read on to find out what else market watchers see coming in the year ahead.
As always, there have been plenty of calls for a silver price turnaround, and that theme dominated the top stories on Silver Investing News for the first quarter of 2015. From trend forecasts to talks with industry experts and analysts, predictions regarding the silver price were certainly some of our
On March 20, 2015, the London gold fix will be replaced by the LBMA gold price. Here’s a breakdown of what exactly that transition will mean for investors and for the gold price.
Reuters reported that UBS AG (NYSE:UBS) said in its annual report that in January it was added to a class-action lawsuit in New York federal court. It’s related to the silver fix.
Prosecutors from the Department of Justice’s antitrust division are looking at the London price-setting processes for gold, silver, platinum and palladium, while the CFTC has opened a civil investigation.
Full-year silver price estimates for 2015 are looking fairly conservative, but the consensus seems to be that a weak start to the year may lead to a stronger finish. Read on to find out more about what’s in store for the white metal moving forward.
UBS has been taken to task for misbehavior at its precious metals spot-trading desk. Meanwhile, First Majestic has released its Q3 results, noting that it’s sold the silver it was holding back.
Gold was down slightly on continued political tensions with Russia. Silver was also down, as the 117-year old silver fix cam to an end. Meanwhile. copper made some gains with higher output from US manufacturers.
The Financial Times reported that although just three trading days remain before the replacement for the London silver fix is put in place, uncertainty remains about who will be participating.
Bloomberg Businessweek reported over the weekend that Deutsche Bank AG (NYSE:DB), HSBC Holdings plc (NYSE:HSBC) and the Bank of Nova Scotia (TSX:BNS) have been accused in a lawsuit of rigging the silver price.
Reuters reported that CME Group said today that it’s interested in administering the London gold fix with Thomson Reuters. The two firms were recently named the new operators of a new silver benchmark that will replace the London silver fix.