Gold fixing

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Gold fixing

The process of determining the price of gold based on supply and demand forces of the market; which occurs twice daily in London.

Gold Fixing

The determination of the price of gold. Gold fixing is done twice per day by the London gold pool, which consists of five members who investigate the supply and demand for gold on the world market. The price that gold fixing determines serves as a benchmark for gold trading worldwide.
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On an inflation adjusted basis, it would need to t up to more than $2,150 to itch where it was at the London fixing on January 21, 80.
The industry-funded World Gold Council has long called for the British Government to abandon the auctions, saying sales should be conducted during the twice-daily London fixing sessions.
Draft of Trading (Outline) Object of trading: Gold Type of trading: Futures trading through cash settlement Final settlement price (Note 2): London fixing price Bid and offer price: 1 troy ounce Bid and offer unit: US$0.
The three-month London interbank offered rates (Libor) for dollar, euro and sterling funds also eased at the London fixings.

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