02 Desember 2010

The Gold Price Fixing Now and Used to be


The Gold Price Fixing Now and Used to be - In the Gold Bullion you would find some common terms you can use to find current gold prices and gold charts online. The spot gold prices nowadays are set by 5 listed Bank in London, they are NM Rothchild & Sons, Sharps Wilkins, Pixley & Abell, Samuel Montagu & Co., Mocatta & Goldsmid. Gold prices being set originally by gold bullion traders and refiners of that time began on September 12th 1919. The gold price was about 4 ponds 18 shillings and nine pence per troy ounce at that time.

Gold prices are at the present time predetermined in U.S dollars, Euros, and British pounds. The prices of Gold since May 2004 are fixed by phone at scheduled time, which is about 10:30 GMT and 15:00 GMT. While historically, the Gold spot used to be fixed twice a day took a place at the city offices of N M Rothschild & Sons in St Swithin's Lane.

In April 2004, the withdrawal of N M Rothschild & Sons from gold trading and the London gold price fixing were announced. June 2007 recorded that the place is taken by Barclays Bank, while the chairmanship of the meeting, used to be taken by Rothschilds, now rotates annually.



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