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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Why is the World of Gold and Silver Changing

Posted on 19 June 2014

Since spot gold and silver are traded 24 hours a day, the daily fix provides a snapshot of prices that industry participants can use to price central-bank assets, the value of exchange-traded funds tied to bullion and physical gold and silver deals.
Now, the prices of silver and gold are set daily in London by way of conference calls among banks—four for gold and three for silver. During the calls, the banks exchange bids and offers for the specific metal on behalf of themselves and their clients, and the price is declared ‘fixed’ when supply and demand is equal at a certain price…………………………………..Full Article: Source


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VRS - who has written 36199 posts on Opalesque Commodities Briefing.


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