LME launches gold, silver contracts for first time in decades

Bloomberg reports that the London Metal Exchange (LME), the world’s biggest industrial metal exchange launched gold and silver futures contracts on Monday for the first time since mid-1980s.

Key Points:

The Joint venture is backed by Goldman, Morgan Stanley, Natixis

At stake are rival visions of how best to run the market, pitching the LME, Goldman Sachs Group Inc. and Morgan Stanley on one side and the London Bullion Market Association representing some of the biggest trading firms on the other.