Pressure to reform the London gold fix has been mounting, but a group of 34 delegates representing different parts of the gold industry (mining operations, refiners, exchanges, investors) organized by the World Gold Council (WGC) is opposed to a complete overhaul of the current system..
“There was no real view from anyone in the room that the gold fix should be abandoned and we should start redesigning it from scratch,” said WGC managing director Natalie Dempster, Reuters reports. “There was a very clear consensus that users want reform not replacement.”
Antiquated gold fix is outdated, easily abused
Under the...
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