To explain the London Gold Fix, it is important to understand the origin of the gold fix - London’s five largest bullion banks establish an agreed transaction price for large sale and purchase orders of gold. This agreed price is known as the London Gold Fix. This fixing system occurs twice each business day, once at around 10.30am – this is known as the Morning Fix, and then again at 3.30pm – this is known as the Afternoon Fix.
The Gold Fix is set in US dollars, and is then converted by the London Bullion Market Association into British Sterling and the Euro to create a worldwide balance in the trading platform.
At Hatton Garden Metals, we update our prices in accordance with the London Gold Fix, this means that the price we offer on gold, for both buying and selling, will fluctuate on a day-to-day basis. If you chose to post your items into us, you will be paid based on the AM Gold Fix for the day that we receive your items. Please note, although we make every effort to work off the fixed morning price, gold operates on a live and moving market, we therefore reserve the right to work off a live trading price in store.