Help! Please help me determine the value of Silver.

[agay]

Can anybody here help me determine the value of SILVER basing on the London Metal Exchange Rate? I can see in the Kitco link above the price of silver in ounce, but how about if we convert it to kilo? How much is a Silver Bar weighing one(1) kilogram with the fineness of .308 basing on the London Metal Exchange Rate? Big thanks to anyone who can help me with this.

 

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[KevGA]

Well, 1 kg = 35.274 ounces and the current price in US$ per ounce is $6.93 so the current value per kg would be $244 US. The current US$ to GBP exchange rate is $1 = .534 GBP so the current value of your 1kg of silver is 130.259 GBP.

Or, if a train leaves Chicago at 7am and travels 85mph....

Oh, and from the info I found it looks as if the LME no longer sets the standard for silver, it is now the LSE (2x daily).

Hope this is what you were looking for.

HH

 

[agay]

Hello Kevl: Thanks for the computation, that's what i really need. Only, we thought the LME controls the price of Silver. So how about if we use LSE, you mean the price in LME is doubled in LSE? And what's the meaning of LSE by the way? Thank you and forgive this person who is ignorant about the pricing of metals.Sincerely and thankfully, Agay.

 

[alwayslookin]

I think that rate is for .999 and this is .308 wouldn't that make a difference in value?

 

[Emperor Findus Cladius]

The above post has a point, which makes the silver worth 40.119 GBP.