By now you’ve probably heard the biggest precious metals news of the week – the London Silver Fix will be shutting down in August. You can read all about it here.
It was just the beginning of May when Euro Pacific Precious Metals Chairman Peter Schiff added his voice to the conversation on gold price manipulation. This latest news about the Silver Fix makes Peter’s timing almost uncanny.
For years, Peter had remained above the conspiracy fray, because the possibility of price fixing does not change his fundamental approach to gold and silver investment. But news of gold manipulation has hit the mainstream hard in 2014, making it impossible to ignore.
Apparently the company behind the London Fix has reached a similar conclusion. It can no longer ignore ongoing lawsuits against banks involved in the LIBOR scandal and the London Gold Fix. Perhaps they thought it best to get out of the benchmark business before the Silver Fix became the next victim.
No one yet knows what will replace the London Silver Fix, but this is (unfortunately) a great opportunity for governments to become more involved in the regulation of precious metals markets. Nevertheless, physical gold and silver investors should not be deterred by this latest news out of London. The fundamental safe-haven value of silver will not disappear simply because some big bankers stop telling the world what they think the price should be.
You can read Peter Schiff’s full opinion on gold and silver price manipulation in his latest Gold Letter, available here:
The Gold Price Is Fixed. So What?
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
The Silver Fix Is Dead. So What?
By now you’ve probably heard the biggest precious metals news of the week – the London Silver Fix will be shutting down in August. You can read all about it here.
It was just the beginning of May when Euro Pacific Precious Metals Chairman Peter Schiff added his voice to the conversation on gold price manipulation. This latest news about the Silver Fix makes Peter’s timing almost uncanny.
For years, Peter had remained above the conspiracy fray, because the possibility of price fixing does not change his fundamental approach to gold and silver investment. But news of gold manipulation has hit the mainstream hard in 2014, making it impossible to ignore.
Apparently the company behind the London Fix has reached a similar conclusion. It can no longer ignore ongoing lawsuits against banks involved in the LIBOR scandal and the London Gold Fix. Perhaps they thought it best to get out of the benchmark business before the Silver Fix became the next victim.
No one yet knows what will replace the London Silver Fix, but this is (unfortunately) a great opportunity for governments to become more involved in the regulation of precious metals markets. Nevertheless, physical gold and silver investors should not be deterred by this latest news out of London. The fundamental safe-haven value of silver will not disappear simply because some big bankers stop telling the world what they think the price should be.
You can read Peter Schiff’s full opinion on gold and silver price manipulation in his latest Gold Letter, available here:
The Gold Price Is Fixed. So What?
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!