The London Gold Fix
The London market fixings are internationally published benchmarks for precious metals prices from reputable trade associations.
The London Fixing for Precious Metal Prices
Prices are fixed for each precious metal at different times of the day:
- Gold prices are fixed at 5:30 am and 10 am (US EST)
- Silver prices are fixed at 7 am (US EST)
- Platinum and palladium prices are fixed together at 4:45 am and 9 am (US EST)
However, buying and selling doesn’t stop after 10 am – it keeps going on around the world. The price can fluctuate away from the London fix depending on local market factors, supply & demand, and other economic considerations. For example, the price of gold in New Delhi, India may be different from the price in New York, USA, but both are based on the initial price fixing from London. This type of price – what you could sell your gold for “right here and now” or “on the spot” – is known as the spot price. Use our chart showing spot prices for New York to estimate the local value of your precious metals.
