Go back My Account
Current prices (kg): Gold €131.946 Silver €2.564
    
Go back
Other questions
Related questions
Where is gold found in the world? Which silver bar should I choose? How does the VAT margin scheme on silver coins work? Which countries have the largest gold reserves? Why is gold so valuable? Where can I buy gold? How much gold is used in industry? Is the purchase of silver exempt from VAT? Why should I buy gold? How long does it take to start up a gold mine? How much silver does a silver investment coin contain? Is the gold price being manipulated? How is gold recycled? Is the savings plan precious metal account physically secured? What does carat mean? Which countries have the largest production of gold? What does the LBMA quality mark mean? Why do central banks own so much gold? What does the supply and demand of gold consist of? (The Golden Tree) How much gold is used for gold bars and gold coins? What is the difference between gold coins and gold bars? What size gold bar or coin do I choose? Which silver coin is best to buy? How is the weight of gold expressed? What does the gold agreement entail? What is the difference between buying physical goud and an exchange-traded gold product such as the iShares Physical How much gold comes out of recycling each year? Why do countries have a gold reserve? Which gold coin is best to buy? What does the spot price mean? What is the Central Bank Gold Agreement? How has the gold price developed over the longer term? Is gold scarce? Can the government demand (confiscate) gold? How harmful are gold mines to the environment? Why doesn’t the gold price change over the weekend? Do silver bars have a certificate? How much gold comes out of gold mines each year? Do gold bars have a certificate? What are bullion coins? Can you counterfeit gold with tungsten? Will gold ever come back as money? When did the Netherlands leave the gold standard? Do I choose platinum and palladium coins or bars? How can I invest in gold? How do I know if the gold is real? Do I choose gold coins or gold bars? How much gold does a gold investment coin contain? Do I pay VAT on silver? Is gold exempt from VAT? What investment coins are there? How much gold is there in the world? How much gold is used for jewelry? Can I take my gold abroad? Do I pay VAT on platinum and palladium? Why are gold coins and bars more expensive than the price of gold? What is the difference between platinum and palladium? How big is the gold market? Do I pay VAT on silver coins? What are LBMA gold bars? Can silver discolor? What is Gold? Cheapest provider of gold What is an ETF? Are there any other uses for gold? How much gold is left in the ground? What is the difference between silver coins and silver bars? Which Dutch coins are used for investments? Where is the Netherlands in the top 10 gold countries? Why is the price of gold rising or falling? What types of gold mines are there? Where are the above-ground gold deposits? What is the lifespan of a gold mine?
What is the daily fixing for gold?

A reference price for gold is set on a daily basis. Until recently (early 2015 for gold and late 2014 for silver) this was done behind closed doors by a small group of banks. Each year, a different bank played the role of chairman, which means that this bank is the Gold price or Silver price for that day. Then all the banks indicated how much gold or silver they wanted to buy and sell at the mentioned price. This continued until a price was reached at which supply and demand were close enough to each other.

Recently, this method of fixing has been replaced by an electronic platform on which participating banks can enter their buy and sell orders. This new electronic fixing of gold, silver, platinum and palladium is carried out by a department of the LBMA. These reference prices can be consulted on the LBMA website.

The old gold price fixing explained (Source: Wall Street Journal)

Did it work? Let us know!
Is your question not answered?
Please fill in the contact form with your question.
Or contact us by phone: 
+31(0)88 468 8400
We care about your privacy

You can set your cookie preferences by accepting or rejecting the various cookies described below

Necessary

Necessary cookies help make a website more usable by enabling basic functions such as page navigation and access to secure areas of the website. Without these cookies, the website cannot function properly.

Necessary
Preferences

Preference cookies allow a website to remember information that changes the way the website behaves or looks, such as your preferred language or the region you are in.

Statistics

Statistical cookies help website owners understand how visitors interact with websites by collecting and reporting information anonymously.

Marketing

Marketing cookies are used to track visitors across different websites. The aim is to display ads that are relevant and appealing to the individual user and therefore more valuable to publishers and third-party advertisers.