{"id":19328,"date":"2016-01-29T13:48:22","date_gmt":"2016-01-29T20:48:22","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=19328"},"modified":"2016-01-29T13:48:22","modified_gmt":"2016-01-29T20:48:22","slug":"a-mark-bullion-update-82","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/a-mark-bullion-update-82\/","title":{"rendered":"A-Mark Bullion Update"},"content":{"rendered":"

\"A-Mark-Precious-Metals-Inc\"<\/a>Yesterday\u00e2\u20ac\u2122s Federal Open Market Committee was predominantly dovish.\u00c2\u00a0 The Fed left interest rates unchanged and the projection for further rate hikes for the remainder of the year was notably less ambitious than in previous meetings.\u00c2\u00a0 Gold had been trailing lower for most of yesterday\u00e2\u20ac\u2122s trading session but the FOMC ignited it.\u00c2\u00a0 Gold shot up to make fresh three month highs before sellers emerged ahead of the 200 day moving average at $1,132.\u00c2\u00a0 After failing at the 200 DMA technical barrier, gold has moved lower today and will look to find support at its 100 day moving average of $1,106.<\/p>\n

The talk of the market today was the price action seen on the LBMA Silver Price.\u00c2\u00a0 The LBMA Silver Price is a benchmark used by miners, refiners, jewelers, central banks, consumers, financial institutions, and traders around the world that, in theory, provides an instant in the day where there is full transparency of the silver price.\u00c2\u00a0 Buyers and sellers emerge to trade on the LBMA Silver Price until there is volume equilibrium and then the price is set, or fixed.\u00c2\u00a0 Every time that the price is fixed for it, the spot price of silver at the time should more or less be exactly in line with it.\u00c2\u00a0 In an unbelievable and unprecedented market event though, the LBMA Silver Price today fixed over 80 cents below the spot market.\u00c2\u00a0 It was set at $13.58 with the spot market trading around $14.42\u00e2\u20ac\u00a6 a 5.50% discrepancy\u00e2\u20ac\u00a6 not even close!\u00c2\u00a0 What makes it all even more outrageous is that policy makers, in the name of \u00e2\u20ac\u0153transparency\u00e2\u20ac\u009d and \u00e2\u20ac\u0153regulation\u00e2\u20ac\u009d, forcibly revamped the century-old London fix in 2014 with this new LBMA Silver Price.\u00c2\u00a0 After today\u00e2\u20ac\u2122s price setting, how\u00e2\u20ac\u2122s that transparency and regulation working out for them now?\u00c2\u00a0 Any producer that sold on today\u00e2\u20ac\u2122s LBMA Silver Price is irate, and rightfully so.\u00c2\u00a0 This is a classic case where more regulation and government influence ultimately hurts the participants in a given market.\u00c2\u00a0 We\u00e2\u20ac\u2122ll see if anything comes of the CME and LBMA investigating the case further\u00e2\u20ac\u00a6 my guess is not much.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday\u00e2\u20ac\u2122s Federal Open Market Committee was predominantly dovish.\u00c2\u00a0 The Fed left interest rates unchanged and the projection for further rate hikes […]<\/p>\n","protected":false},"author":6,"featured_media":17083,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[53,1421,1422,1387],"class_list":["post-19328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-federal-reserve","tag-gold-prices","tag-gold-trading","tag-silver-prices"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=19328"}],"version-history":[{"count":2,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19328\/revisions"}],"predecessor-version":[{"id":19330,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19328\/revisions\/19330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/17083"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=19328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=19328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=19328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}