World Gold Market

World Gold Market

• Loco London Gold Market
  In London, gold and silver are traded by members of the London Bullion Market Association (LBMA), supervised by the Bank of England. Most of its members are international banks or bullion dealers and some giant refiner.
• Gold Market America
  In 1975, America New YorkCommodity Exchange to start trading COMEX gold forward, into the central gold forward world trade. Today, gold futures markets in New York replacing London's status in regulating the market in the world gold price. The reason why this happens? Because the New York market has the advantage in the transaction method, aggregate supply, the marked price and time of transaction.
• Hong Kong Gold Market
  Gold market in Hong Kong is also known as the gold market Loco (Local) London. Now the market has about 70 participants who actively trade, mostly banks, investment companies and local gold traders to hedge against their positions in the futures market. Loco London gold market is qoute in U.S. dollars per troy ounce 99.99% pure gold and with delivery in London.

Gold Prices

• Gold standard (Bretton Woods, 1944)
  Gold prices set at $ 35 per ounce and currency $ 1 is a representation of 1 / 35 ounce of gold.
  

• London Gold Fixing (since 1968)
  Defined 2 times a day based on the results of the meeting representatives of 5 companies bullion trading.
  

• Spot Gold (since the Nixon Shock 1971)
  U.S. government policy to dismiss the direct conversion of the USD against gold.
  

World Gold Transaction Cycle Time