gata.org / By Rachel Younglai / June 8, 2014
Gold Fix Under Scrutiny as Regulators Probe Archaic System
By Rachel Younglai
The Globe and Mail, Toronto
Sunday, June 8, 2014
http://www.theglobeandmail.com/report-on-business/industry-news/energy-a…
The cozy little world of gold trading is getting less comfortable.
A handful of bankers in London currently set the world standard for gold prices, a practice that started in 1919 and is widely used by governments, miners and brokers to buy and sell the precious metal and its financial derivatives.
But regulatory probes have shone an unwanted spotlight on the benchmark known as the London gold fix, and prompted calls for change.