Wednesday 23 August 2017 | The view from Wall Street & Silicon Valley


Gold

The London Fix still works

By Ross Norman of Sharps Pixley | Monday 14 July 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from TopStockProphets). I have no business relationship with any company whose stock is mentioned in this article.


The Chinese expression "Real gold is not afraid of the melting pot" suggests that if you have genuine quality, then you will not fear adversity. Well, in that sense, the London gold fix, an institution with a history going back nearly 120 years, is facing its own test as regulators question whether or not the process is "fit for purpose".  The gold fix is in essence a benchmark price that is derived twice a day from actual trades all concentrated into a short space of time to determine an objective price for gold.

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