London Spot Fix

A A A

DEFINITION

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

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 major concentrations ...
  2. Association Of Futures Brokers ...

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

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

    1. A commodities or securities market in which goods are sold for cash and delivered ...
  5. Spot Price

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

    The rate of a foreign-exchange contract for immediate delivery. Also known as ...
  7. Forex Spot Rate

    The current exchange rate at which a currency pair can be bought or sold. The ...
  8. ICE LIBOR

    See LIBOR
  9. WM/Reuters Benchmark Rates

    Spot and forward foreign exchange rates that are used as standard rates for ...
  10. Exchange Rate

    The price of a nation’s currency in terms of another currency. An exchange rate ...
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

  5. How does the foreign-exchange market ...
    Forex

    How does the foreign-exchange market ...

  6. Top 10 Forex Trading Rules
    Forex Education

    Top 10 Forex Trading Rules

  7. Forex Tutorial: The Forex Market
    Forex Education

    Forex Tutorial: The Forex Market

  8. What Would Have To Happen For The Iraqi ...
    Forex Fundamentals

    What Would Have To Happen For The Iraqi ...

  9. Is the Iraqi Dinar Investment a Wise ...
    Forex Fundamentals

    Is the Iraqi Dinar Investment a Wise ...

  10. Astute Traders Are Picking This Precious ...
    Chart Advisor

    Astute Traders Are Picking This Precious ...

comments powered by Disqus
Hot Definitions
  1. XW

    A symbol used to signify that a security is trading ex-warrant. XW is one of many alphabetic qualifiers that act as a shorthand to tell investors key information about a specific security in a stock quote. These qualifiers should not be confused with ticker symbols, some of which, like qualifiers, are just one or two letters.
  2. Quanto Swap

    A swap with varying combinations of interest rate, currency and equity swap features, where payments are based on the movement of two different countries' interest rates. This is also referred to as a differential or "diff" swap.
  3. Genuine Progress Indicator - GPI

    A metric used to measure the economic growth of a country. It is often considered as a replacement to the more well known gross domestic product (GDP) economic indicator. The GPI indicator takes everything the GDP uses into account, but also adds other figures that represent the cost of the negative effects related to economic activity (such as the cost of crime, cost of ozone depletion and cost of resource depletion, among others).
  4. Accelerated Share Repurchase - ASR

    A specific method by which corporations can repurchase outstanding shares of their stock. The accelerated share repurchase (ASR) is usually accomplished by the corporation purchasing shares of its stock from an investment bank. The investment bank borrows the shares from clients or share lenders and sells them to the company.
  5. Microeconomic Pricing Model

    A model of the way prices are set within a market for a given good. According to this model, prices are set based on the balance of supply and demand in the market. In general, profit incentives are said to resemble an "invisible hand" that guides competing participants to an equilibrium price. The demand curve in this model is determined by consumers attempting to maximize their utility, given their budget.
  6. Centralized Market

    A financial market structure that consists of having all orders routed to one central exchange with no other competing market. The quoted prices of the various securities listed on the exchange represent the only price that is available to investors seeking to buy or sell the specific asset.
Trading Center