MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
OtherJun 08, 2014
Market favors auction system to replace silver ‘fix’
Players in the silver market want an electronic auction-based solution to replace the price “fix” system that will end in August, according to a survey done by the London Bullion Market Association.
London--Players in the silver market want an electronic auction-based solution to replace the price “fix” system that will end in August, according to a survey done by the London Bullion Market Association.
The London Silver Market Fixing Limited announced last month that it would cease to administer the silver “fixing”--the method of setting silver’s per-ounce price via a conference call with three banks each day--at the close of the business day on Aug. 14.
Until then, Deutsche Bank, HSBC and Bank of Nova Scotia will continue to set the price of silver during their daily conference call, a process that has been in effect for 117 years.
Once the announcement was made that it would come to an end, the London Bullion Market Association, or LBMA, launched an online survey to gain market consultation on the London silver daily price mechanism. More than 440 participants took the survey, which ran from May 16 to 30.
The general consensus, in addition to favoring an electronic auction-based system, was that the new solution should also be tradeable with an increased number of direct participants.
Midway through the survey, when they began analyzing the results, LBMA CEO Ruth Crowell said, “Market comments received so far indicate the importance of a daily London silver spot price as well as the need for transparency and wider participation in any future price discovery mechanism.”
Final results showed that when asked how useful the current London silver price mechanism is, the average answer from participants was a 7.5 out of 10. About 64 percent of participants said that they use it daily while 24 percent use it periodically.
Seventy-two percent think that the silver price discovery method is sufficient and the remaining 28 percent said that they don’t think it is.
As a result of the survey, the LBMA has launched a request for proposals from all those companies that had expressed an interest in becoming the price administrator for silver.
The association said that they would then hold a seminar on June 20 to allow LBMA members to discuss and provide feedback on the proposals they have received.
According to Reuters, a number of organizations, including the Chicago Mercantile Exchange and the London Metal Exchange, have said that they are working with the LBMA and the industry to find an electronic-based solution.
Kitco.com also recently launched its own global silver fix price network,
where it publishes four fixing prices--the 10 a.m. New York Silver Fix, the 10 a.m. U.K. Silver Fix, the 10 a.m. Mumbai Silver Fix and the 10 a.m. Hong Kong Silver Fix.
More on Other
The Latest
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
