New electronic gold fixing system will be launched today

Market news

20 March 2015

New electronic gold fixing system will be launched today

A near century old London gold fixing will be replaced by an electronic gold fixing system today. Six banks will be able to set gold prices twice a day. The new procedure should make the global gold market more transparent. The gold market will become a partially regulated market, reducing the possibility for price manipulation. Chinese companies may be added in future.

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