The LBMA Gold Price (formerly known as "the Gold Fix") is the twice-daily setting of gold benchmark prices.
This electronic auction process, administered by Intercontinental Exchange Inc. ("ICE"), occurs twice on each London business day, at 1:30 am London time (the "AM Auction") and again at 3:00 pm (the "PM Auction").
A wide variety of market participants use the LBMA Gold Price to transact, this includes mints, central banks, refineries and institutional investors.
Tradeable prices are set in USD with indicative pricing being published in a number of other currencies. Trading on the gold fix is not easily acccomplished by the general public. Also, as the price is only determined twice daily, it would require an investor to wait until the next benchmark for the price to be determined.
coininvest's parent company, INTL FCStone, was the first non-bank member of both the LBMA Gold and Silver Prices.