Reuters: LME: Banks prepare to scrap LME gold and silver contracts..... | NG Message Board Posts


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Msg  8096 of 8116  at  10/14/2021 4:15:09 AM  by

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Reuters: LME: Banks prepare to scrap LME gold and silver contracts.....




From ww.gata.org dispatches:

quote


Banks prepare to scrap LME gold and silver contracts, sources tell Reuters


By Peter Hobson and Pratima Desai
Reuters
Wednesday, October 13, 2021

LONDON -- A group of banks that partnered with the London Metal Exchange (LME) to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise, three sources with direct knowledge of the matter said.

Such a move would end an attempt by the LME, which dominates industrial metals trading, to capture part of London's bullion market, which is the world's largest with gold worth some $17 trillion changing hands last year.

... Dispatch continues below ...






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