Big Change Coming to Gold Market as London Fix to End

By Stephen Alpher

• The LBMA Gold Price will launch on Friday, with the ICE Benchmark Administration running the auction process, replacing the London Gold Fix which has been around since 1919.
• While the London Gold Fix was determined by just four actors, the LBMA process is designed for more transparency and to allow as many participants as possible, which should make China part of the mix. “It may lift the very secretive veil” of China’s gold consumption, says Kevin Kerr of Kerr Trading International.

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