London Metal Exchange has not officially announced whether it will be opened on the day of the funeral of Queen Elizabeth II.
This has caused outrage from brokers. Many think it is disrespectful for the Queen to open during the funeral of Queen Elizabeth II. Some opine that London Metal Exchange is not transparent in its decisions.
London Metal Exchange hinted its operation
It has been announced that the funeral of Queen Elizabeth will fall on Saturday, 19th of September 2022. The day will be a national holiday for England. According to London Metal Exchange’s official spokesperson, the organization will inform the brokers of the official arrangement on the day of the funeral later.
According to sources, London Metal Exchange hinted to its brokers that it would open on the funeral day of Queen Elizabeth II. Still, there is no official statement on whether the London Metal Exchange will operate on the day of the funeral.
19th of September is the third Wednesday of the month. According to the contract, the day is concentrated with the most gold trades. Therefore, it is difficult for London Metal Exchange to make a rearrangement to manage the trades of gold on that day if it were to decide to stop operating on the day of the Queen’s funeral.