In response to a significant bullion market development, kitco.com is now publishing four fixing prices:the
Not only was Kitco able to create a new method to determine the silver fixing prices, the process was validated through vigorous back-testing against the current mechanism. Having four price points each day, as opposed to one, is expected to be a welcome convenience for many market participants.
"Creating the Kitco Silver Fixes not only addresses our business needs but we believe our global platform and market presence will establish an international standard that will help other organizations as well," John Dourekas, Senior Vice President,
Kitco's move was prompted by the
Kitco's Silver Fixing price is derived by a unique algorithm that averages the spot price between bid/offer on the wholesale silver market, as quoted by internationally recognized bullion dealers.
Companies interested in using the fix can provide feedback by emailing email@example.com
The production and publishing of these new silver fixes is in keeping with the pioneering tradition of data provision that makes Kitco the world's most trusted source of important metals market information.
Kitco's leading website, www.kitco.com, is visited daily by close to a million people around the world. It is recognized as the definitive voice on precious metals information. The company has earned a solid reputation as an innovator in the industry since its founding in 1977. Kitco Metals was the first precious metals company to carry out its activities online and to create real-time market information applications for smart phones. Kitco is one of the largest retailers of precious metals in the world.
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