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World Gold Council to fix global gold pricing

Posted on 20 June 2014

A discussion by gold buyers and sellers across the market on ways to reform or replace London’s global price benchmark, known as the “fix”, will be held next month by the World Gold Council. The discussion comes as gold and silver fixes, along with other commodity benchmarks, face increased scrutiny by regulators in Europe and the United States following the London Inter bank Offered Rate (Libor) manipulation case in 2012.
WGC, a gold mining industry group, said on Wednesday bullion banks, refiners, fund firms, central banks and mining companies had been invited to the forum, with a first meeting scheduled for July 7 in London. Britain’s financial conduct authority will attend the discussion forum as an observer………………………………………..Full Article: Source


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