Fixing gold and silver prices per gram

Gold and silver are being traded through international markets on a daily basis. Like any other commodities on the worldwide exchanges, the value of these precious metals changes continuously, and is determined by the ratio between supply and demand. Gold and silver prices per gram are set for samples of pure gold and pure silver. In order to work out the value of gold and silver alloys, the percentage of pure gold or silver in the sample must be incorporated into the calculation.

In the UK the price of silver is set by the London Silver Fixing. This figure is adjusted each trading day at noon by the three members of the Fixing, who represent three major banks. The Chairman of the committee proposes a price, which the other two members pass on to their clients. If there are sufficient buyers and sellers of silver at the proposed price this price is then said to be fixed. The current silver price can be found at silverfixing.com.

While the price of silver is fixed once per day, the gold price is set twice daily. This fixing is agreed between the five members of the London Bullion Market Association. Again the price is decided in such a way as to achieve a balance between supply and demand. The current price of gold can be found at lbma.org.uk.

The key to fixing gold and silver prices per gram is to set a price that is agreeable to clients seeking to purchase these metals, while also satisfying the expectations of clients who intend to sell. If the price is considered too high by potential buyers, less metal will be traded, and if it is too low the sellers will be less inclined to part with their metals.

United Kingdom - Excite Network Copyright ©1995 - 2021