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Reform or die: Gold price fix under pressure

Posted on 19 June 2014

The 117-year-old London Silver Fix is nearly dead. Is its younger but more illustrious sister going the same way? That was the question being asked in the gold sector on Wednesday. In a move that caught some off guard – not least the London Bullion Market Association, whose members oversee the benchmark price – the World Gold Council said it had convened a forum to discuss the future of the 95-year-old gold fix.
The meeting, which is expected to involve everyone from mining companies to exchange traded funds, will explore “modernisation” of the benchmark, which was “imperative to maintain trust across the industry”, the WGC said…………………………………..Full Article: Source


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