London Metal Exchange To Start Trading In Silver By June

The LME has announced that trading in silver will start by June. The new contract will be for silver of 99.9 percent purity traded in lots of 5,000 fine troy ounces, with a weight tolerance of plus or minus two percent. Granules will be deliverable from October at a premium of three cents an ounce, reviewable after a year. Silver trade will be cleared in dollars, yen, sterling and euros.