Business Glossary
SEARCH THE BUSINESS GLOSSARY
daily determination of the price of gold by selected gold specialists and bank officials in London, Paris, and Zürich. The price is fixed at 10:30 A.M. and 3:30 P.M. London time every business day, according to the prevailing market forces of supply and demand.
process by which the daily price is set for gold traded on the spot market. It occurs in London, Paris, and Zurich at 10:30 A.M. and 3:30 P.M. London time of every business day. This price is the average price at which all major bid orders are filled, and is set by gold trading specialists at gold trading financial institutions operating in these cities.
daily determination of the price of gold by selected gold specialists and bank officials in London, Paris, and Zurich. The price is fixed at 10:30 A.M. and 3:30 P.M. London time every business day according to the prevailing market forces of supply and demand.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
