London Spot Fix

AAA

DEFINITION of 'London Spot Fix'

A price per ounce for each of the precious metals (gold, silver, platinum and palladium) determined daily at 10:30 and 15:00 GMT by a brief conference call among the five members of the London Gold Pool (Scotia-Mocatta, Barclays Capital, Deutsche Bank, HSBC and Société Générale). The London spot fix price is the price fixed at the moment when the conference call terminates.

London spot fix is also referred to as "London a.m. fix" and "London p.m. fix" or "London morning fix" and "London afternoon fix".

INVESTOPEDIA EXPLAINS 'London Spot Fix'

Members of the London Gold Pool belong to the London Bullion Market Association (LBMA). The LBMA provides the daily spot fix prices on its website in U.S. dollars, British pounds and euros. The price does not remain fixed throughout the morning and throughout the afternoon, however, and begins to vary immediately after the spot fix.

RELATED TERMS
  1. The City

    The main financial district of London, and one of the world's ...
  2. Association Of Futures Brokers ...

    An organization established by the major London futures exchanges ...
  3. Gold Fix

    The twice-daily act of setting gold prices by the five members ...
  4. Spot Market

    1. A commodities or securities market in which goods are sold ...
  5. Spot Price

    The current price at which a particular security can be bought ...
  6. Spot Exchange Rate

    The rate of a foreign-exchange contract for immediate delivery. ...
Related Articles
  1. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  2. Forex: Wading Into The Currency Market
    Forex Education

    Forex: Wading Into The Currency Market

  3. Commodity Prices And Currency Movements
    Forex Education

    Commodity Prices And Currency Movements

  4. Forex: Money Management Matters
    Forex Education

    Forex: Money Management Matters

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center