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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The five banks who oversee the so-called London gold fixing -- Barclays Plc, Deutsche Bank AG, Bank of Nova Scotia, HSBC Holdings Plc and Societe Generale SA -- have formed a steering committee that's seeking external firms to advise how the process could be improved, according to the person, who asked not to be identified because the review isn't public.
It tracks the price of gold calculated using the London Gold Fixing Price set in US dollars on each trading day.
The ETF, which will provide the returns in yuan, will monitor the performance of the London Gold Fixing Price in US dollars.
ScotiaMocatta is the Chairman of the London Silver Fixing, the longest tenured member of the London Gold Fixing, and a leading market-maker with operations worldwide.

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