{"id":2233,"date":"2017-07-17T16:47:35","date_gmt":"2017-07-17T15:47:35","guid":{"rendered":"https:\/\/www.ukbullion.com\/blog\/?p=2233"},"modified":"2017-07-25T16:49:59","modified_gmt":"2017-07-25T15:49:59","slug":"gold-price-need-to-know","status":"publish","type":"post","link":"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/","title":{"rendered":"The Gold Price: What You Need to Know"},"content":{"rendered":"

The gold spot price, the live gold price, the gold fix price, gold futures prices \u2013 what do they all mean and what\u2019s the difference between them?<\/p>\n

When you\u2019re new to investing in gold, you may find yourself confused by the different terms, figures and prices used to explain what\u2019s happening in the market.<\/p>\n

By taking the time to understand these key words and numbers, you will put yourself in a better position to make wise investments.<\/p>\n

The gold fix price<\/strong><\/p>\n

The gold fix price (otherwise known as the \u2018London fix\u2019) is set by the London Bullion Market Association (LBMA)<\/a> twice per day, firstly at 10:30am then at 3pm.<\/p>\n

The gold market operates 24 hours a day, unlike the stock markets, so there is no official closing price each day. The afternoon gold fix price is therefore often used to represent the closing price on any given day.<\/p>\n

The auction that determines the fix price twice a day is independently operated by the ICE Benchmark Administration (IBA)<\/a> and the price is set as the price per troy ounce of gold.<\/p>\n

It\u2019s worth noting that firms that use the LBMA gold price commercially will likely hold a license with the IBA. There has been a real push towards transparency and responsibility within the market, something the IBA is working still to uphold.<\/p>\n

The live gold price or the gold spot price<\/strong><\/p>\n

The live gold price<\/a> is what bullion dealers typically use to price the products they have on offer. Also known as the gold spot price, it\u2019s given per troy ounce<\/a> of the precious metal and is almost constantly changing throughout the day.<\/p>\n

The live gold price is essentially what the precious metal can be bought and sold for at this time.<\/p>\n

Gold futures prices<\/strong><\/p>\n

Finally, theeFinally, Fin gold futures market is aa public and regulated exchange. Gold futures are contracts that enable a seller and a buyer to lock in a sale now based on the predicted price of gold on a given day in the future. aTrading in gold futures allows investors to take bigger risks and invest more money.<\/p>\n

In a gold futures trade, the amount and price of gold are agreed upon now, but the actual exchange won\u2019t happen until a fixed date in the future, leaving plenty of room for market speculation.<\/p>\n

During the period in between, the seller will have the opportunity to try and buy back the same amount of gold, whilst the buyer attempts to sell it. This means that, come exchange day, the traders will only need to settle for their gains and losses.<\/p>\n

Need more help understanding the language? Try our free A-Z jargon buster<\/a>. Or, if you\u2019re ready to get started with an investment in gold, browse our range of competitively-priced gold bars<\/a> now.<\/p>\n","protected":false},"excerpt":{"rendered":"

The gold spot price, the live gold price, the gold fix price, gold futures prices \u2013 what do they all mean and what\u2019s the difference between them? When you\u2019re new to investing in gold, you may find yourself confused by the different terms, figures and prices used to explain what\u2019s happening in the market. By taking the time to understand these key words and numbers, you will put yourself in a better position to make wise investments. The gold fix price The gold fix price (otherwise known as the \u2018London fix\u2019) is set by the London Bullion Market Association (LBMA) twice per day, firstly at 10:30am then at 3pm. The gold market operates 24 hours a day, unlike the stock markets, so there is no official closing price each day. The afternoon gold fix price is therefore often used to..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[277],"tags":[300,106,185,298,299],"yoast_head":"\nWhat is the \u2018Fix\u2019 Gold Price? | UK Bullion<\/title>\n<meta name=\"description\" content=\"Learn more about the gold price and the differences between the gold fix price, the gold spot price and gold futures prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the \u2018Fix\u2019 Gold Price? | UK Bullion\" \/>\n<meta property=\"og:description\" content=\"Learn more about the gold price and the differences between the gold fix price, the gold spot price and gold futures prices.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/\" \/>\n<meta property=\"og:site_name\" content=\"UKBullion Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/UKBullion\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-17T15:47:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-07-25T15:49:59+00:00\" \/>\n<meta name=\"author\" content=\"UKBullion\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:site\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"UKBullion\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/\",\"name\":\"What is the \u2018Fix\u2019 Gold Price? | UK Bullion\",\"isPartOf\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\"},\"datePublished\":\"2017-07-17T15:47:35+00:00\",\"dateModified\":\"2017-07-25T15:49:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\"},\"description\":\"Learn more about the gold price and the differences between the gold fix price, the gold spot price and gold futures prices.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-price-need-to-know\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ukbullion.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Gold Price: What You Need to Know\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/\",\"name\":\"UKBullion Blog\",\"description\":\"Welcome to the UKBullion Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ukbullion.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\",\"name\":\"UKBullion\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"caption\":\"UKBullion\"},\"description\":\"UKBullion.com are the UK's leading site for buying Gold, Silver, Platinum and Palladium Bullion Bars. 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