where is the primary gold market

Discussion in 'Metal Futures' started by andrasnm, Feb 23, 2006.

  1. New York
    London
    Asia
    I was watching
    http://kitco.com/market/
    but I am curious what is the driving market? New York perhaps?
     
  2. do you mean during the day in the USA
    or round the clock 24 / 7 ?

    by the way

    -thebulliondesk- also has realtime prices
    for the cash market in precious metals
     
  3. tomcole

    tomcole

    gold mkt is based on London delivery. London is the true terminal market for inter-bank trading. you'll hear the expression, Loco London, which means Location London versus loco NY, or loco Guam. warrants versus Ldn etc

    All physical swaps are based on a spread versus London.

    For the truly esoteric, who knows what a US Assay bar is?
     
  4. 24/7
    I know that London price fixing is important but I thought prices may move and settle more in NYC based on oil and interest rate factors. So which is it? Who really sets the price?
     
  5. tomcole

    tomcole

    London fixing is used as an international standard, however there is also an arb of ny v PM fixing.

    gold price fluctuates all day every day.