| The five banks that set the benchmark price for gold are meeting Tuesday as they seek an external audit of the processes they use, according to a person with knowledge of the matter.
The five have formed a steering committee to review the so-called "London fixings" amid intense regulatory scrutiny over possible manipulation of precious-metals prices. As spot gold is traded over the counter 24 hours a day and there is no central source for data on prices, each morning and afternoon in London a group of five market participants meets to determine a snapshot of the price, commonly known as the London fix...................................Full Article: Source
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