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gold fix

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Gold Fix
The setting of gold prices, twice a day, by the five members of the London gold pool. This rate is used as a benchmark for pricing the majority of global gold products and derivatives.

Notes:
Twice a day, the London gold pool sets the price of gold based upon basic economics of supply and demand. The world then uses these prices to determine the price of bullion and gold related products.

gold fix
The setting of the price of gold by dealers so as to establish values for gold bullion, gold products, and gold-related products. The price of gold is fixed twice a day in each of the world's gold centers. See also fix.
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However, the WGC welcomes the NAO's criticism of the British Treasury implicit in the reports recommendation that "the Treasury could give further thought, in consultation with the gold market, to using the London Gold Fix as an alternative or additional means of selling gold.
Britain's National Audit Office Report On U.K. Gold Sales Raises More ... by Business Wire
If the UK government insists on selling British gold, the UK should follow their example and use the BIS or sell through the London gold fix.
World Gold Council Condemns Latest UK Gold Auction by Business Wire
The London gold fix this morning priced gold at $286.
UK Gold Auction: Time for Reflection by Business Wire
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