What does the London gold fix have to do with investing in 1 oz of gold? Everything. The London gold fix occurs twice each day that gold trading happens, and this is the procedure employed to set the market price which gold is offered at by the troy oz weight . The procedure happens in London but the price set is determined in 3 various currencies, the euro, the US dollar, and also the Pound sterling or GBP.
The London gold fix was first performed on September 12, 1919 at 11 in the afternoon. This process involves the 5 most influential refiners as well as investors of gold bullion in the London marketplace and has always been performed similar way. Until May 5, 2004 the 5 members of the panel that fixed the gold price met personally, however this was changed and today the fixing is performed utilizing a dedicated phone conference that does a similar thing with no need for travel or security problems.
The price on the market for 1 ounce of gold is placed by the London gold fix. This cost is determined at 10:30 a.m. and again at 3 p.m. Based on London time. Markets around the globe make use of the London gold fix to set prices, and this offers consistency on a global level. All five of the members that participate in the fixing procedure are banking institutions and are the top market makers on this industry.
The 5 present London gold fixing panel members are generally Scotia-Mocatta, Barclays Capital, Deutsche Bank, HSBC, and Societe Generale. The original 5 members of this board were Sharps Wilkins, Pixley & Abell, N M Rothschild & Sons, Samuel Montagu & Co., and Mocatta & Goldsmid. There have been some modifications to panel members throughout the last century as some banking institutions were replaced by other individuals.
When anybody purchases 1 ounce of gold on the market the price that is charged for the bullion just before any commissions or other costs are included is very near to the London gold fix price that was lately set.
The London gold fix was first performed on September 12, 1919 at 11 in the afternoon. This process involves the 5 most influential refiners as well as investors of gold bullion in the London marketplace and has always been performed similar way. Until May 5, 2004 the 5 members of the panel that fixed the gold price met personally, however this was changed and today the fixing is performed utilizing a dedicated phone conference that does a similar thing with no need for travel or security problems.
The price on the market for 1 ounce of gold is placed by the London gold fix. This cost is determined at 10:30 a.m. and again at 3 p.m. Based on London time. Markets around the globe make use of the London gold fix to set prices, and this offers consistency on a global level. All five of the members that participate in the fixing procedure are banking institutions and are the top market makers on this industry.
The 5 present London gold fixing panel members are generally Scotia-Mocatta, Barclays Capital, Deutsche Bank, HSBC, and Societe Generale. The original 5 members of this board were Sharps Wilkins, Pixley & Abell, N M Rothschild & Sons, Samuel Montagu & Co., and Mocatta & Goldsmid. There have been some modifications to panel members throughout the last century as some banking institutions were replaced by other individuals.
When anybody purchases 1 ounce of gold on the market the price that is charged for the bullion just before any commissions or other costs are included is very near to the London gold fix price that was lately set.
About the Author:
The process used to fix the buying price of gold by the ounce includes various buy and sell scenarios, and each member who participates confirms that the end result of the negotiations is 0. Important lessons can be found at this web site: 1ozofgold.net.
Ditulis oleh:
Unknown - Thursday, October 11, 2012
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