Tag Archives: gold fix
Intercontinental Exchange or ICE has announced two more members of the newly implemented gold benchmark this week. Morgan Stanley and Standard Chartered are just the latest two banks to join the twice daily electronic-based auction system for setting the gold … Continue reading →
The London Bullion Market Association has announced that the Bank of China has joined Goldman Sachs, UBS, Barclays, HSBC, Bank of Nova Scotia, Societe Generale, and JP Morgan as the first Asian bank to participate in the new daily gold … Continue reading →
The establishment of a China-based gold fix for the yuan also marginally undermines the dollar as the global benchmark currency, says Jan Dehn, an economist with the Ashmore Group in London, a $70 billion asset management firm.
(Reuters) – China conducted trial runs for the planned launch of a yuan-denominated gold fix last month, three sources familiar with the matter said, in a sign the world’s second-biggest bullion consumer was moving closer to creating a benchmark price.
The Wall Street Journal has reported that the Department of Justice and the Commodity Futures Trading Commission are currently investigating at least 10 major banks for their role in the rigging of precious metals prices. Department of Justice Prosecutors are … Continue reading →
The 95-year old London Gold Fix has finally found a new administrator. ICE Benchmark Association will conduct the daily pricing auctions starting early next year, the London Bullion Market Association announced today. The “gold fix” has been in place since … Continue reading →
In July, the four banks that administer the platinum and palladium fixes announced that they would seek a third-party to take control of the benchmarks. Today it was announced that The London Metals Exchange, owned by Hong Kong Exchanges and … Continue reading →
For nearly a century, the price of gold has been determined by what has been called the “London Gold Fix”, essentially, a secure telephone call twice a day (as markets open in London and NYC) between four of the world’s … Continue reading →