Gold Fix
The setting of gold prices, twice a day, by the five members of the London gold pool. This rate is used as a benchmark for pricing the majority of global gold products and derivatives. Investopedia Says:
Twice a day, the London gold pool sets the price of gold based upon basic economics of supply and demand. The world then uses these prices to determine the price of bullion and gold related products. Related Terms:
Bullion
Fool's Gold
Gold Standard |