The London gold fix is undergoing a huge change, starting Friday
From a fixing price determined by 4 market participants (HSBC, Barclays, Société Générale, and Scotia-Mocatta, the global bullion banking division of Scotiabank) we'll be getting a screen-based electronic fixing from the London Bullion Market Association (LBMA), with more participants. These will likely include the usual suspects; JP Morgan, UBS, Credit Suisse, Goldman Sachs, Citi, Morgan Stanley and Standard Chartered .... but the full list of participants will only be announced on Friday.
There is plenty of speculation of the role China will play in the new fix process. ZeroHedge have more on this, here.
