For gold it is set twice per day and once per day for silver. The London market issues a “fix” price twice per day for gold, and once per day for silver. These fix prices are a benchmark used by institutions, producers, and other large market participants to price contracts and settle large buy and sell orders.
What time does London Fix gold & silver prices?
From Kitco Metals Inc., daily London fix prices (a.m. and p.m.) for gold, silver, platinum and palladium, in U.S. dollars per troy ounce. The international benchmark prices for gold and silver are set by the London Gold and Silver Fixing Companies, members of the London Bullion Market Association (LBMA).
What is the London gold fix?
The London Gold Fix is the process by which the five biggest participating bullion banks establish a common transaction price for a large pool of bullion purchase and sales orders. When the gross amount of gold on purchase and sell orders across the participating banks match, the price is established.
