Editing Gold fixing (section)

{{Short description|Setting of the price of gold}}
The London '''Gold Fixing''' (or '''Gold Fix''')<ref>{{Cite web |url=https://www.goldfixing.com/ |title=London Gold Fixing |access-date=2014-07-27 |archive-url=https://web.archive.org/web/20131106081118/http://www.goldfixing.com/ |archive-date=2013-11-06 |url-status=dead }}</ref> is the setting of the price of [[gold]] that takes place via a dedicated conference line. It was formerly held on the [[New Court|London premises]] of [[N M Rothschild & Sons|Nathan Mayer Rothschild & Sons]] by the members of The London Gold Market Fixing Ltd.

The benchmark is determined twice each [[business day]] of the [[London bullion market]] (the exceptions to this being Christmas Eve and New Year's Eve when there is only one fixing in the morning). It is designed to fix a price for settling contracts between members of the London bullion market, but the gold fixing informally provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets. The [[London_Bullion_Market_Association | LBMA]] gold price is set twice every business day at 10:30AM and 3:00PM, London time, in [[United States dollar]]s (USD). Prices are available in sixteen other currencies—including [[Pound sterling|British pounds]], [[Canadian dollar]]s, [[Renminbi|Chinese renminbi]], and [[euro]]s—but they are indicative prices for settlement between LBMA members only.

The current 14 participants in the fixing are the [[Bank of China]], the [[Bank of Communications]], [[Coins 'N Things]], the [[Industrial and Commercial Bank of China]], [[INTL FCStone]], [[Jane Street Capital|Jane Street Global Trading]], [[HSBC Bank USA]], [[JPMorgan Chase]], [[Koch_Industries#Koch_Supply_&_Trading|Koch Supply and Trading]], [[Marex Spectron|Marex Financial]], [[Morgan Stanley]], [[Standard Chartered]], the [[Scotiabank|Bank of Nova Scotia]], and the [[Toronto-Dominion Bank]].