- Published: Wednesday, 27 August 2014 16:00
- Written by Steve Fiscor
After sweeping changes were announced for the London silver fix, the London gold fix will likely follow suit. Gold prices are set twice daily by the London Gold Market Fixing (LGMF) at 10:30 and 15:00 and are expressed in U.S. dollars per fine troy ounce. The silver price is set once daily at 12:00 by the London Bullion Market Association (LBMA) and is expressed in U.S. dollars per troy ounce. The fixes provide benchmarks for mining companies to settle contracts, and more recently, to price exchange-traded funds (ETFs).