Analysts are of the view that China's central bank will soon allow a yuan-denominated gold fix
, Reuters has reported.
The 95-year-old London gold fix
is similar to the silver fix except it relies on four banks (Barclays, FISBC Holdings, Bank of Nova Scotia and Societe General) and one of its banks was fined recently for manipulating the price.
5.45 TRIP THE LIGHT, 6.15 GOLD FIX
, 6.50 AKBABEND, 7.20 IRON VELVET, 7.55 TOURNEDOS, 8.25 NEO'S MATE
However, this shouldn't take too much winning and Gold Fix
has hinted at enough talent to seize the opportunity.
The well-supported Maoi Chinn Tire (11-2 into 4-1) came through looking all over the winner, briefly trading at 1.11 in running, but he didn't see out the trip and was collared by the well-backed pair Desert Auction (9-1 into 11-2) and Gold Fix
(25-1 into 18-1).
At the same time, the West Midlands is the UK's 6th highest MARKETWATCH FTSE 100 CLOSED: dn 74.68 at 6505.13 FTSE 250 CLOSED: dn 231.55 at 17267.56 GOLD FIX
: 1100.00 ($/oz) SILVER FIX: 947.25 (p/oz) WALL STREET CLOSED: dn 163.39 at 17568.53 TOKYO CLOSED: dn 194.43 at 20350.10 region in terms of manufacturing output.
Recently, ICE was named the administrator of the LBMA gold fix
. It has acquired the Singapore Mercantile Exchange for $150 million in November 2013.
Global Banking News-March 6, 2014--Five international banks in London gold fix
While there's no evidence the gold fix
is being manipulated, economists and academics have said the way the benchmark is set is outdated, vulnerable to abuse, and lacking in any direct regulatory oversight.
Sterling Index Unchanged at 80.90 Gold fix
Down $14.25 at $1454.75.
Statistics: London Gold Fix
$1,763.75 -$3.00 LME Copper Stocks 220,525 tons +225 tons
CATTERICK: 5.45 Trip The Light, 6.15 Gold Fix
, 6.50 Akbabend, 7.20 Emerald Girl, 7.55 Obe Gold, 8.25 Neo[sup.3]s Mate.