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".

BREAKING DOWN '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. Gold Fix

    The twice-daily act of setting gold prices by the five members ...
  2. Euro LIBOR

    London Interbank Offer Rate denominated in euros. This is the ...
  3. Fixing

    The practice of arbitrarily setting the price of a good or commodity. ...
  4. The City

    The main financial district of London, and one of the world's ...
  5. Mint Ratio

    1. The price of an ounce of gold divided by the price of an ounce ...
  6. Price Fixing

    Establishing the price of a product or service, rather than allowing ...
Related Articles
  1. Investing

    London's Effect On Gold Prices

    Read about the nearly 100-year-old London gold fix, why the process may be winding down and how Shanghai now threatens London as the world's gold master.
  2. Managing Wealth

    How Much Money Do You Need to Live in London?

    Find out what it takes to live in London, including the average costs of living for students, professionals and unemployed individuals.
  3. Investing

    How Deutsche Bank Market Manipulation Impacts Investors (DB)

    Explore the ramifications of Deutsche Bank's admission that it manipulated gold and silver from 2007 to 2014, including its similarities to other schemes.
  4. Investing

    Brexit Pain: London May Lose Derivatives Crown

    London's dominance of the $9.4 trillion world derivatives market may diminish dramatically after Brexit
  5. Financial Advisor

    Is It the Right Time to Buy a Home in London?

    The "Help to Buy" scheme has been sweetened further for first time home buyers in London. Should you jump to buy a home in London now?
  6. Investing

    London's FX Trading Dominance Threatened by Brexit

    London's FX market after Brexit is likely to lose its privileged access to the EU - and thus its dominance.
  7. Personal Finance

    What It Costs To Study Abroad In London

    Studying in London puts you right at the center of a cultural, academic and business hub. And careful budgeting will get you there. Here's how.
  8. Investing

    A Beginner's Guide To Precious Metals

    All that glitters isn't gold. Find out how to get started on your treasure hunt.
  9. Investing

    The Insiders Who Fix Rates for Gold, Currencies And Libor

    The system by which benchmark rates are fixed for interest rates, currencies and gold is archaic - and, many would argue, deeply flawed.
  10. Investing

    Top 3 ETFs With Exposure to Palladium (PALL, SPPP)

    Discover why palladium is considered a precious metal, and learn about some of the ETF options that provide investors exposure to palladium.
RELATED FAQS
  1. How can I track gold prices?

    Learn how to track gold prices. Gold is a commodity traded as a physical asset and a futures contract. The one you track ... Read Answer >>
  2. What is the difference between fixed cost and total fixed cost?

    Learn what a fixed cost is, what a variable cost is, what total fixed costs are, and the difference between a fixed cost ... Read Answer >>
  3. What other precious metals are there beyond gold and silver?

    Discover the other, lesser-known precious metals such as platinum and palladium, which are more tied to the industrial economy ... Read Answer >>
  4. What is the fixed asset turnover ratio and why is it important?

    Learn about the fixed asset turnover ratio and how this calculation is used to analyze how efficiently a company uses its ... Read Answer >>
  5. How do you account for changes in the market value of various fixed assets?

    Understand how to account for changes in the fair market value of a company's fixed assets. Learn what accounting methods ... Read Answer >>
Hot Definitions
  1. IRS Publication 970

    A document published by the Internal Revenue Service (IRS) that provides information on tax benefits available to students ...
  2. Federal Direct Loan Program

    A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct ...
  3. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  4. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  5. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  6. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
Trading Center