London Fix Price

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jetpro
jetpro Posts: 126
in U.S. Coin Forum
Can someone please explain what is the "London Fix Price" and why is it different than the NY Spot Price?

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  • DoubleEagle59
    DoubleEagle59 Posts: 8,433 ✭✭✭✭✭
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    London fix price is the closing price of gold at the end of the trading day at the London England gold exchange.

    It will differ from the NY close because these two gold exchanges close at different times in respect to each other.

    The gold market almost never sleeps because there are other gold exchanges throughout the world - Asia, Singapore, Australia etc...
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • DoubleEagle59
    DoubleEagle59 Posts: 8,433 ✭✭✭✭✭
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    Here's a daily chart of the gold price and you can see different exchanges at the bottom (london, NY, Hong Kong, Sydney) all closing at different times, hence different prices.

    image
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • jetpro
    jetpro Posts: 126
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    Thanks doubleeagle
  • StampAlarm
    StampAlarm Posts: 1,668 ✭
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    I'm not quite sure what DoubleEagle is saying. The London gold fix is twice a day and the silver fix is once a day.

    Here is the site for LBMA. Make sure to click on about the fixings.

    And to the home page to find all the members.



    Jerry
  • Swampboy
    Swampboy Posts: 13,255 ✭✭✭✭✭
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    Good info StampAlarm.

    "The price cannot be 'fixed' whilst a flag is raised."

    I did not know that. image

    "Inspiration exists, but it has to find you working" Pablo Picasso

  • DoubleEagle59
    DoubleEagle59 Posts: 8,433 ✭✭✭✭✭
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    I should have added in my explanation 'pm fixing'.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • CaptHenway
    CaptHenway Posts: 34,164 ✭✭✭✭✭
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    London achieved its independence from the United States in 1776. Since then it has had its own gold price fix.

    image
    Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.

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