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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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FX Update: The Dollar reached the London fixing at mixed levels, up against the Pound, which was the biggest mover in thin trading conditions in the absence of North American markets, while having posted modest declines versus the Euro and holding a near net-unchanged level against the Yen.
With a recent London fixing of 1,622, the BDI has risen a jaw-dropping 22 percent since June 22.
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.

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