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What is London Fix?

London Fix Prices (in USD)
Gold Silver Platinum Palladium
AM PM - AM PM AM PM
$2 043.65 $2 032.30 $24.19 $964.00 $946.00 $1 138.00 $1 130.00

London Fix (also known as London Gold Fixing) is a reference price for gold, set twice a day in London. This price serves as a global standard for trading gold and other precious metals.

How does London Fix work?

  • The price is set twice a day (at 10:30 AM and 3:00 PM London time) on weekdays.
  • The process is managed by the London Bullion Market Association (LBMA).
  • The price is determined based on supply and demand by major market participants, including large banks and precious metal traders.
  • London Fix is crucial for determining prices of investment gold, bars, and coins worldwide.

Why is London Fix important?

  • It is used as a reference price for both wholesale and retail markets.
  • It ensures transparency and stability in gold and other precious metal pricing.
  • It serves as a basis for various financial instruments, such as gold derivatives and futures contracts.

Today, London Fix is more commonly known as LBMA Gold Price, but the pricing principle remains the same.

 

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