Current prices (kg): Gold €117.853 Silver €1.804
    
Go back
Other questions
Related questions
What are LBMA gold bars? Why doesn’t the gold price change over the weekend? Where is gold found in the world? What is the lifespan of a gold mine? Why is gold so valuable? How harmful are gold mines to the environment? What is the difference between silver coins and silver bars? Why do central banks own so much gold? What is an ETF? Is gold exempt from VAT? Can silver discolor? Which silver bar should I choose? Which silver coin is best to buy? What does carat mean? What is the difference between buying physical goud and an exchange-traded gold product such as the iShares Physical What does the LBMA quality mark mean? What does the spot price mean? Do I pay VAT on silver? What investment coins are there? Which countries have the largest gold reserves? Why should I buy gold? How much silver does a silver investment coin contain? What is the difference between gold coins and gold bars? How does the VAT margin scheme on silver coins work? Is the savings plan precious metal account physically secured? How is gold recycled? Why is the price of gold rising or falling? Where can I buy gold? Do I choose platinum and palladium coins or bars? How do I know if the gold is real? What are bullion coins? Which Dutch coins are used for investments? What is the Central Bank Gold Agreement? Is the gold price being manipulated? Are there any other uses for gold? Can I take my gold abroad? How much gold is used for jewelry? Can the government demand (confiscate) gold? How big is the gold market? Will gold ever come back as money? How much gold is used for gold bars and gold coins? Do gold bars have a certificate? Can you counterfeit gold with tungsten? How can I invest in gold? Why are gold coins and bars more expensive than the price of gold? How much gold is used in industry? How much gold comes out of gold mines each year? Do silver bars have a certificate? Where are the above-ground gold deposits? How has the gold price developed over the longer term? How long does it take to start up a gold mine? How much gold is left in the ground? How much gold is there in the world? Why do countries have a gold reserve? Is gold scarce? What is the difference between platinum and palladium? What does the supply and demand of gold consist of? (The Golden Tree) Which gold coin is best to buy? Is the purchase of silver exempt from VAT? How much gold comes out of recycling each year? What types of gold mines are there? What does the gold agreement entail? How is the weight of gold expressed? Which countries have the largest production of gold? Do I pay VAT on platinum and palladium? Do I choose gold coins or gold bars? Do I pay VAT on silver coins? Where is the Netherlands in the top 10 gold countries? What is Gold? What size gold bar or coin do I choose? Cheapest provider of gold When did the Netherlands leave the gold standard? How much gold does a gold investment coin contain?
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.