{"id":7444,"date":"2025-06-10T17:15:52","date_gmt":"2025-06-10T15:15:52","guid":{"rendered":"https:\/\/www.italpreziosi.it\/gold-guide\/gold-fixing-the-price-of-gold-on-international-markets\/"},"modified":"2026-03-17T16:22:20","modified_gmt":"2026-03-17T15:22:20","slug":"gold-fixing-the-price-of-gold-on-international-markets","status":"publish","type":"page","link":"https:\/\/www.italpreziosi.it\/en\/gold-guide\/gold-fixing-the-price-of-gold-on-international-markets\/","title":{"rendered":"Gold fixing: the price of gold on international markets"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"7444\" class=\"elementor elementor-7444 elementor-109\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cdec593 e-con-full e-flex e-con e-parent\" data-id=\"cdec593\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-aa2eeb8 e-flex e-con-boxed e-con e-child\" data-id=\"aa2eeb8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-abbae19 e-con-full e-flex e-con e-child\" data-id=\"abbae19\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6cf418d elementor-widget elementor-widget-shortcode\" data-id=\"6cf418d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Italpreziosi<\/span><\/p><\/nav><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-993394b elementor-widget elementor-widget-heading\" data-id=\"993394b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><span class=\"sf\">Gold fixing<\/span>: the price of gold on international markets<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af62b0b elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"af62b0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>How is the price at which gold is to be sold and purchased determined? What influences its value? Who is entitled to provide an internationally recognised benchmark? These are some of the questions that help us understand <strong>how the gold market works<\/strong> and what parameters it responds to. To explore this topic in greater depth, it is useful to start with a fundamental element: gold fixing.    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-179f870 elementor-widget elementor-widget-heading\" data-id=\"179f870\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is gold <span class=\"sf\">fixing<\/span>?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-811158a elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"811158a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Gold fixing is the internationally recognised procedure used to <strong>set the price of gold on the financial markets<\/strong>.<\/p><p>This process <strong>takes place twice a day in London<\/strong> and involves <strong>five banks<\/strong> (Barclays, HSBC, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Bank of Nova Scotia and JP Morgan), which agree on the purchase and sale price of gold for their daily transactions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ba61c0 elementor-widget elementor-widget-heading\" data-id=\"1ba61c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">A historic gold fixing<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4411768 elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"4411768\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"block-go\"><div class=\"sub-block\"><p>Gold fixing <strong>began in London in 1919<\/strong>, when a group of bankers met to establish a reference price for gold. The price was determined on the basis of bids and offers from the participants at the meeting, who represented the main players in the <a href=\"https:\/\/www.italpreziosi.it\/en\/gold-guide\/the-evolution-of-gold-prices-history-between-the-20th-and-21st-centuries\/\"><span style=\"text-decoration: underline;\">gold market at the time<\/span><\/a>.<\/p><p>As the gold market evolved, the fixing process changed over time. In 1987, London <strong>Gold Market Fixing Limited<\/strong> was established to regulate the gold fixing procedure.<\/p><p>In 2014, following some controversy regarding the transparency of the process, a new method of determining the price of gold was introduced, called the <strong>LBMA Gold Price<\/strong>.<\/p><\/div><\/div><div class=\"block-go\">\u00a0<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2869080 elementor-widget elementor-widget-heading\" data-id=\"2869080\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"sf\">How gold fixing works<\/span> today<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90362de elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"90362de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"block-go\"><div class=\"sub-block\"><p>Today, gold fixing is <strong>determined every day in London at 10.30 a.m. and 3 p.m.<\/strong> (local time). During the session, representatives of the five participating banks provide their bids and offers for gold, which are taken into account to determine the reference price for gold. <\/p><p>The reference price established by the gold fixing is used as the <strong>basis for trading gold on international markets<\/strong>, thus influencing the price of gold worldwide.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f7d1db elementor-widget elementor-widget-heading\" data-id=\"1f7d1db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Why do we talk about the London gold fixing?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-daaf2ac elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"daaf2ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"block-go\"><div class=\"sub-block\"><p>As can be inferred from the above, the term \u201cLondon fixing\u201d refers to the English capital, where the process originated and where it still takes place today.<\/p><p><strong>London<\/strong> is considered the <strong>centre of the international gold market<\/strong> and is home to important organisations such as the London Bullion Market Association (<span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.lbma.org.uk\/\" target=\"_blank\" rel=\"noopener nofollow\">LBMA<\/a><\/span>), which regulates gold trading worldwide.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ccb7a3f e-con-full e-flex e-con e-child\" data-id=\"ccb7a3f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-4388aa4 e-con-full e-flex e-con e-child\" data-id=\"4388aa4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6313c1d elementor-widget elementor-widget-image\" data-id=\"6313c1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"481\" height=\"406\" src=\"https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/grafico-fixing-spot-price-oro.jpg\" class=\"attachment-medium_large size-medium_large wp-image-1821\" alt=\"A close-up of a digital screen displaying multiple fluctuating line graphs in blue, red, and green, representing financial or stock market data against a black background with a grid and numbers on the side.\" srcset=\"https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/grafico-fixing-spot-price-oro.jpg 481w, https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/grafico-fixing-spot-price-oro-300x253.jpg 300w\" sizes=\"(max-width: 481px) 100vw, 481px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f54577a e-con-full e-flex e-con e-child\" data-id=\"f54577a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-777bdf6 elementor-widget elementor-widget-heading\" data-id=\"777bdf6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The difference between gold fixing and real-time spot price<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e0faf9 elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5e0faf9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Gold fixing and real-time spot price are two different concepts used to assess the value of gold on the market.<\/p><p>As we have said, <strong>gold fixing<\/strong> is a process of determining the price of gold that takes place <strong>twice a day<\/strong> in London, managed by the LBMA.<\/p><p>The <strong>real-time spot price of gold<\/strong>, on the other hand, is the current market price of gold, which is <strong>determined by real-time transactions<\/strong> between buyers and sellers. This price can <strong>vary at any time<\/strong> during the day, based on fluctuations in supply and demand in the market. In fact, when we talk about <a href=\"https:\/\/www.italpreziosi.it\/en\/gold-guide\/gold-trading-how-it-works-and-taxation-in-italy\/\"><span style=\"text-decoration: underline;\">buying and selling gold<\/span><\/a>, we are referring to this type of transaction and its regulation.<\/p><p>In other words, while the <strong>gold fixing price is determined only twice a day<\/strong> by the five major investment banks, the real-time <strong>spot price is constantly updated<\/strong> based on market transactions. In this sense, in technical jargon, when consulting the \u201c<a href=\"https:\/\/www.italpreziosi.it\/en\/quotations\/gold\/\"><span style=\"text-decoration: underline;\">gold price<\/span><\/a>\u201d, it is implicit that reference is made to this second price and not to the one determined by one of the two daily fixings.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-137c1b8 elementor-widget elementor-widget-heading\" data-id=\"137c1b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What influences the price of gold<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb6eef4 elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"cb6eef4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>There are various factors that can influence the value of gold. For example, the <strong>fixing<\/strong> process can be <strong>influenced by external factors<\/strong>, such as currency fluctuations or changes in countries&#8217; monetary policies. In addition, the fixing process may be subject to manipulation by the investment banks involved.  <\/p><p>On the other hand, <strong>the real-time spot price is mainly influenced by market supply and demand<\/strong>, which can depend on various factors, including changes in the prices of other commodities, geopolitical tensions or currency fluctuations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0a2bf9a e-con-full e-flex e-con e-child\" data-id=\"0a2bf9a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-9d43b81 e-con-full e-flex e-con e-child\" data-id=\"9d43b81\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ac90907 elementor-widget elementor-widget-image\" data-id=\"ac90907\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"720\" height=\"405\" src=\"https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/consulente-investimento-oro.jpg\" class=\"attachment-medium_large size-medium_large wp-image-1819\" alt=\"A man in business attire analyzes stock market charts on a laptop while holding a smartphone. A potted plant, a glass mug with a dark beverage, and a notepad are on the desk in a well-lit room.\" srcset=\"https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/consulente-investimento-oro.jpg 720w, https:\/\/cdn.italpreziosi.it\/wp-content\/uploads\/2025\/08\/consulente-investimento-oro-300x169.jpg 300w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a7f27f2 e-con-full e-flex e-con e-child\" data-id=\"a7f27f2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1549003 elementor-widget elementor-widget-heading\" data-id=\"1549003\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How <span class=\"sf\">Italpreziosi<\/span> contributes to precious metal fixing<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3299710 elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"3299710\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Italpreziosi also contributes to gold price formation with the ITLP Code: our company is one of the members from which the London Bullion Market Association (LBMA) collects anonymous and aggregated commercial information to provide gold market participants with a transparent and simplified report on the price of gold: this is the LBMA Trade Data, published by Nasdaq and available through Bloomberg and Refinitiv Eikon. This service provides a daily snapshot of the OTC Loco London and Loco Zurich market share for precious metals: not only gold, but also silver, platinum and palladium. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Gold fixing: the price of gold on international markets How is the price at which gold is to be sold and purchased determined? What influences its value? Who is entitled to provide an internationally recognised benchmark? These are some of the questions that help us understand how the gold market works and what parameters it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":7427,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-7444","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/pages\/7444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/comments?post=7444"}],"version-history":[{"count":11,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/pages\/7444\/revisions"}],"predecessor-version":[{"id":7675,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/pages\/7444\/revisions\/7675"}],"up":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/pages\/7427"}],"wp:attachment":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/media?parent=7444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}