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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References in periodicals archive ?

Barclays has been fined GBP26.03m by the FCA for breaches in its rules regarding certain of the bank's systems and controls relating to the Gold Fixing. The bank added that it has committed significant resources to enhancing its systems and controls in relation to the Gold Fixing as well as in relation to other reference rates.

Barclays reaches settlement with the FCA regarding Gold Fixing

The ETF, which will provide the returns in yuan, will monitor the performance of the London Gold Fixing Price in US dollars.

-Hang Seng Bank launches yuan denominated gold ETF

It is not yet known which of the gold benchmarks are the target of the review, but among the most important gold benchmarks in the London gold fixing, which determines the spot price for physical gold and is set twice a day by a panel of five banks.

Review into gold benchmark rigging launched by FCA

Gold fixings are international benchmarks for precious metals and values are based on interactions in an over-the-counter gold market.

Rates of gold

Until about three years ago, the gold fixings took place at the premises of NM Rothschild and Sons, with each bank sending a representative.