Gold fix is the process of determining gold price. The price of gold is fixed twice daily in London by the five members of the London gold pool, all members of the London Bullion Market Association.
Starting Time?
The fixes start at 10.30 a.m., and 3.00 p.m. London time. The length of time taken to reach an agreed fixing price can vary. Nowadays it is often reached in minutes.
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Currency used to fix the gold price?
United States dollars (USD)($)
Pound sterling (GBP),
Euro (€)
Why the Price Fix?
It designs to fix a price for settling contracts between members of the London bullion market, but informally the gold fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets.
Where can find the Gold Prices?
London gold fix prices can be found on the site of the LBMA (the London Bullion Market Association).
Current Gold Price
Who are the Five Participants?
Five Participants in the fixing, who must be members of the London Bullion Market Association, are:
* Scotia-Mocatta
* Barclays Capital
* Deutsche Bank
* HSBC
* Société Générale
Further help:
Wikipedia
Kitco.com
More Explanation
London Bullion Market Association
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