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Gold industry resistant to price benchmark replacement - WGC

Posted on 08 July 2014

Gold producers and consumers are resistant to a wholesale redesign of the existing price setting benchmark known as the “fix” despite increasing regulatory glare, a discussion held by the World Gold Council found on Monday.
The debate hosted by the gold mining industry group was attended by 34 delegates from investment funds, refiners, exchanges, and other industry bodies. The four banks that currently set the globally used gold benchmark twice a day via a conference call - Barclays Plc , HSBC, Bank of Nova Scotia and Societe Generale - were not present, but the WGC said it had had meetings with them separately……………………………………..Full Article: Source


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