Gold Industry to discuss alternatives to the London gold fix
Victoria Hewitt-Marsh, News Editor
18 Jun 2014, 10:32 a.m.
The World Gold Council has invited a number of market participants to a meeting in July to discuss possible changes to the London gold fix.
The gold fix is a pricing benchmark used by industry participants such as central banks and jewellers to price deals. This latest news closely follows Deutsche Bank decision to sell its seat on the fix following an investigation by the German regulator into possible gold price manipulation.
The five members of the gold fix are HSBC Holding, Barclays Bank, Deutsche Bank, Bank of Nova Scotia and Societe Generale.
UK regulator the Financial Conduct Authority will attend the meetings.