MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
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
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
