In age of market scrutiny, who wants in on the gold price 'fix'?

Jan 22 2014, 12:58 IST
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The gold price is adjusted up and down until demand and supply is matched, at which point the price is 'fixed'. (Reuters) The gold price is adjusted up and down until demand and supply is matched, at which point the price is 'fixed'. (Reuters)
SummaryGold price setting or 'fixing', determines benchmark for the billions of dollars traded every day.

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"There isn't really another way you can get a fair snapshot of the market twice a day," one gold trader said. "If the fixers step away, it leaves it open to questionable prices being put through, with no reference to where the actual gold price is."

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