منذر منير علي سيف الصلوي
The wise man of his time said to his entourage and his servants, "Walking wrong, throwing rocks, walking together, throwing air."
منذر منير علي سيف الصلوي
(Kitco News) The London Metal Exchange (LME), the world's oldest and largest market for industrial metals, announced that it would remain open on September 19, the day of Queen Elizabeth's funeral.
"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin Grandma
4h ago
Bitcoin market is always open
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2h ago
Your skull is always open too. It's how your brain fell out...
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Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
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Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
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6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
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Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
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"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin Grandma
4h ago
Bitcoin market is always open
Reply
1
3
Share
PetRocks
2h ago
Your skull is always open too. It's how your brain fell out...
Reply
1
1
Share
2 replies
Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
Reply
2
1
Share
Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
Reply
1
Share
Grasshopper
6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
Reply
1
Share
Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
Reply
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منذر منير علي سيف الصلوي
(Kitco News) The London Metal Exchange (LME), the world's oldest and largest market for industrial metals, announced that it would remain open on September 19, the day of Queen Elizabeth's funeral.
"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin Grandma
4h ago
Bitcoin market is always open
Reply
1
3
Share
PetRocks
2h ago
Your skull is always open too. It's how your brain fell out...
Reply
1
1
Share
2 replies
Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
Reply
2
1
Share
Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
Reply
1
Share
Grasshopper
6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
Reply
1
Share
Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
Reply
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"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin Grandma
4h ago
Bitcoin market is always open
Reply
1
3
Share
PetRocks
2h ago
Your skull is always open too. It's how your brain fell out...
Reply
1
1
Share
2 replies
Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
Reply
2
1
Share
Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
Reply
1
Share
Grasshopper
6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
Reply
1
Share
Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
Reply
Share
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منذر منير علي سيف الصلوي
(Kitco News) The London Metal Exchange (LME), the world's oldest and largest market for industrial metals, announced that it would remain open on September 19, the day of Queen Elizabeth's funeral.
"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Our Community
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Bitcoin Grandma
4h ago
Bitcoin market is always open
Reply
1
3
Share
PetRocks
2h ago
Your skull is always open too. It's how your brain fell out...
Reply
1
1
Share
2 replies
Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
Reply
2
1
Share
Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
Reply
1
Share
Grasshopper
6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
Reply
1
Share
Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
Reply
Share
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"Reflecting the international nature of the LME's market and taking into account the potential impact of the short notice from an operational risk perspective, the Bank Holiday will constitute a Business Day for the purposes of the LME and LME Clear Rules, and the markets themselves will remain open," the LME said in a press release Tuesday.
Whether to close or remain open was a difficult decision for the LME because the Queen's funeral falls on an important calendar date - when monthly valuations for September are established. This is why it is choosing to keep operations running.
"A full market closure of trading, with only a few days' notice, would create undue operational risk. This is particularly the case because September 19 represents the key trading day to establish September monthly valuations," the 145-year-old exchange said. "The LME has carefully considered how best to balance the interests of the market, our operational considerations and our desire to pay our respects."
However, despite the market staying open, there will be some changes. For example, the first open-outcry session will be canceled since it coincides with the timing of the funeral service.
Also, LME offices will be closed on September 19 out of respect for the Queen. And the exchange will be donating all trading fees from September 19 to the Queen's charities.
The decision contradicts the nation's declared public holiday. Over the weekend, Buckingham Palace announced the date for the funeral, with the UK observing a national holiday on that date.
Most UK commodity markets, including gold and soft commodities, will be closed for the funeral, including the London Bullion Market Association (LBMA).
"The London market will be closed and there will be no metal settlements in the UK on that day … ICE Benchmark Administration has confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Gold and LBMA Silver prices," the LBMA said. "The London Metal Exchange has also confirmed that on Monday, September 19, 2022, there will be no AM or PM auctions for LBMA Platinum and LBMA Palladium prices."
One exception will be Brent crude oil, with ICE Futures Europe stating that the contract would operate as usual.
By Anna Golubova
For Kitco News
Contact agolubova@kitco.com
www.kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Our Community
162
Comments posted on Kitco Chat today
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Bitcoin Grandma
4h ago
Bitcoin market is always open
Reply
1
3
Share
PetRocks
2h ago
Your skull is always open too. It's how your brain fell out...
Reply
1
1
Share
2 replies
Flip Vansaksen
5h ago
Indeed, one day not manipulating could cause irreversible damage
Reply
2
1
Share
Crusador
5h ago
That's it exactly, it's a 24 hour a Day job 7 Day's a week to control price perception their viewpoint is Business as usual !
Reply
1
Share
Grasshopper
6h ago
It's still a brick - house, too~ as an industry leader in a fine tooth comb. A gold swing the size of nature.. A , could slip out..( But momentum has been awful friendly)
Reply
1
Share
Grasshopper
6h ago
Zip recruiter.. Save on great deals :) , I want to rving, but not with zip recruiter... The walk of life, dire straights. Here.
Reply
Share
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Kitco
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