Reuters exclusively reports banks prepare to scrap LME gold and silver contracts

Reuters exclusively reported that a group of banks that partnered with the London Metal Exchange (LME) to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialize. Such a move would end an attempt by the LME, which dominates industrial metals trading, to capture part of London’s bullion market, which is the world’s largest with gold worth some $17 trillion changing hands last year.