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  2. May 2, 2022 · The London Gold Fix was a method to fix the price of gold per troy ounce in US dollars. It was replaced in 2015 by The London Bullion Market Association, or LBMA, Gold Price.

  3. en.wikipedia.org › wiki › Gold_fixingGold fixing - Wikipedia

    It is designed to fix a price for settling contracts between members of the London bullion market, but the gold fixing informally provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets.

  4. Mar 19, 2024 · In the heart of London’s financial district lies a ritual steeped in tradition and shrouded in mystery—the London Gold Fix. This twice daily occurrence, dating back to 1919, sets the benchmark price for gold globally and plays a pivotal role in the precious metals market.

  5. The Gold Fix establishes the price at which the gross amount of gold on buy orders matches the gross amount of gold on sell orders - across all the participating banks. The Gold Fix Chairman will start the fixing process by declaring a price - usually very near the ongoing spot market gold price.

  6. Jan 1, 2024 · Through the liquid and reliable over-the-counter cash market, Kitco Metals is able to calculate a reliable fixing price for gold, silver, platinum and palladium. The fixing price will be released every day at 10 am and made available for free to Kitco users.

  7. Whether you’re buying in physical form (such as bullion coins or bars), digital, or so-called ‘paper’ gold which can be traded on the stock market – the gold fix acts as a transparent benchmark which dealers use to set their price against.

  8. Apr 20, 2023 · The London Gold Fix (or just Gold Fix) is the benchmark for the gold bullion price on the world market. In this process, the gold dealers of the five largest London bullion banks set a common transaction price for a large pool of gold buy and sell orders.