What is gold repair?
Gold repair is a practice that determines the global price of gold. Although officially used only to determine the price of gold for members of the London Bullion (LBMA) Association, it is used to create a basic price used for gold around the world. As a result, people who are active in the golden market usually wait eagerly for the result of the gold repair conferences twice a day. With the exception of the short period of suspension during World War II, gold has been fixed since then, although the mechanics of the event have changed significantly from the early 20th century. Today, the Zlataed by Telekonference is reached. Five LBMA members are involved, acting as a London Golden Proper Limited market. During the conference call, the chairman first throws the price, usually close to the current spot price of gold, and the members respond to pushing up or down depending on the commands they need to fill.
VA gold is designed to balance the supply and demand and at the same time achieve a common price for orders. It happens at 10:30 and again at 15:00. In addition to participating in the repair of gold, LBMA also participates in the determination of the price of silver, another rare metal that is widely purchased and sold in the global market. The huge influence of the organization on prices was not unnoticed, and some people ask whether the repair of gold is quite fair or whether it should have an impact that does it.
People who are curious about the last price of CAN Find it on the LBMA website. The results of gold repair conferences are also often published on financial websites, especially if they focus on gold and silver trading, and can be obtained by calling financial institutions.
Despite the huge influence it has on the market, LBMA is not very accessible to members of the general public. Membership institutions process massive extensive purchases and selling orders for gold primarily on behalf of other financial inby stitches. Few individual investors are traded on a scale with LBMA members.