The Gold Fix
Is the gold price uncertain too?
Is Gold fixed?
- The Gold Fix is a real trading price. It is not a survey, like LIBOR, and it is not a chart of quotes, like the Bloomberg spot gold ticker. It is a price at which a very large number of buyers and sellers chose to deal, and this makes it real.
- It was dealt in open competition in very large size, positively swamping the sizes of the individual bullion bank quotes on the Bloomberg ticker. As I explained above this size gives it a right to be different.