Gold price | Century-old London Gold Price Benchmark Getting Overhauled ...

Gold price | Century-old London <b>Gold Price</b> Benchmark Getting Overhauled <b>...</b>

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Century-old London <b>Gold Price</b> Benchmark Getting Overhauled <b>...</b> Posted: 04 Sep 2014 03:41 PM PDT The operator of the London gold price benchmark said on Thursday it has begun the process of looking for a new administrator that will replace the traditional twice-a-day phone call used by institutions. According to Reuters: The London Gold Market Fixing Ltd (LGMFL), along with the London Bullion Market Association (LBMA), said in a statement that the choice will be announced in October, and implementation will be complete by the end of 2014. The price-setting process, also known as the fix, has been used by producers, consumers and investors to trade gold and value their shares since 1919. Click here to read the full article Tags: london, London Bullion Market Association, London Gold Market Fixing -->

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