| The LBMA Gold Price has replaced the historic London Gold Fix. The first LBMA Gold Price settled at $1,171.75. ICE Benchmark Administration (IBA) administers the “LBMA Gold Price”. They provide the auction platform, methodology as well as overall independent administration and governance for the LBMA Gold Price. The LBMA holds the intellectual property rights.
The London Gold Fix pricing mechanism has been replaced by a new electronic LBMA price-discovery process from Friday, 20th March 2015. The price continues to be set twice daily (at 10:30 and 15:00 London GMT). The new LBMA Gold Price is operated and administered by an independent third party provider, ICE Benchmark Administration (IBA), who were chosen following consultation with market participants...............................................Full Article: Source
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