What is the Gold Fix?
To help facilitate trades on the London gold market, the price of gold is "fixed" twice each weekday. The Gold Fix is determined by a five member panel, known as The London Gold Market Fixing Ltd.
The Gold Fix is used to help members of the London Bullion Market Association (LBMA) complete trades. The gold fix sets values in US dollars, British Pounds and Euros, and is used as a benchmark price by most of the world’s markets for bullion and other gold derivatives.