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London gold fix still does the job

Posted on 15 July 2014

The Chinese expression “Real gold is not afraid of the melting pot” suggests that if you have genuine quality, then you will not fear adversity. Well, in that sense, the London gold fix, an institution with a history going back nearly 120 years, is facing its own test as regulators question whether or not the process is “fit for purpose”.
The gold fix is in essence a benchmark price that is derived twice a day from actual trades all concentrated into a short space of time to determine an objective price for gold. Of course, prices are also being set in trading outside the London fix, but these prices are subjective, as they are posted by individual banks………………………………………..Full Article: Source


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VRS - who has written 39872 posts on Opalesque Commodities Briefing.


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