27.11.2013 - Analysts question relevance of London gold price fix
With regulators around the globe investigating the transparency of financial markets, some analysts and traders are wondering if it is time to transition away from the London gold price fixing. According to a Bloomberg article on Tuesday, the UK Financial Conduct Authority is analyzing the London gold price fix to see how gold prices are set. The article went on to describe how price fixing works as five bullion banks Barclays Plc , Deutsche Bank AG , Bank of Nova Scotia, HSBC Holdings Plc and Societe Generale SA. meet twice a day to determine the price of gold..............................................Full Article: Source
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